GOLD 1H TRADING ANALYSIS FOR THE DAY / ALL TIME HIGHDear Traders,
Please seee our updated Analysis of the New Chart (5th February)
Key Observations
All orange circles represent previously achieved targets: Reflects accurate analysis and alignment with market conditions.
In this chart
TP1 (2817.55): Successfully hit.
TP2 (2837.03): Successfully hit.
TP3 (2856.51): Pending
Resistance Levels:
2845.42
Support Levels:
Key Support: 2812.
GOLDTURN Levels:
2837 (critical weighted level).
2828 (critical weighted level).
2817 (next major support level).
2807 - 2812 (lower demand zone).
EMA5 (Red Line):
Currently above TP2 (2837), indicating ongoing bullish momentum.
EMA5's position will be critical for determining future price action.
Recommendations
Focus on EMA5 Behavior:
Bullish Case:
* If EMA5 holds above TP2 (2837) and Goldturn 2837 provides support, bullish momentum will likely push the price higher to retest and achieve TP3 (2856.51).
* If EMA5 cross and lock above 2856, it will determine further bullish target to 2869
Bearish Case:
* If EMA5 cross and lock below 2837: Indicates bearish pressure, likely pushing the price towards Goldturn 2828.
* If EMA5 crosses and locks below Goldturn 2828: Expect further decline to:
Goldturn 2817 (strong demand zone and support).
* If EMA5 crosses and locks below Goldturn 2817 : Expect further decline to:
2807 - 2812 (key structural support).
Summary of Key Points
Holding above indicates bullish momentum with potential retest of 2856.51.
Breaking below leads to bearish targets at 2823, 2817, and 2807.
We will continue to capitalize on buying dips using our identified support levels, aiming for gains of 30 to 40 pips per trade. Consistent with our previous strategy, each of our structured levels typically provides reliable bounces ranging from 20 to 40 pips, offering steady opportunities for short-term profits.
Please show us support with likes, comments, and follow our channel. Don't forget to boost our post.
The Quantum Trading Mastery
