⭐️ XAUUSD : Is Gold Likely to Fall Again? Based on my observations, the current resistance used to be a strong support on the daily timeframe. A solid breakout indicates that the price is now moving towards a new level. I'm targeting this 2332 resistance as the golden zone for us to swing short towards the support at 2299.
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Best regards, Zack
Goldswing
GOLD on Short Wave Gold move into a uptrend channel
acoording to previous weekly analysis
if the price move under level 2069USD we consider this view as still valid
GOLD Entries + Exits!How To Play The Chart Entries/Exits:
Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 35 pips then enter the buy and ride to TP1. Each TP is a support or resistance zone , so you could then even take a sell after TP1 for the buys have been hit and if it breaks out then just repeat.
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GOLD Swing Trade and SetupI am currently holding three positions on Gold (1 initial entry and two positions when price created a swing that meets my entry criteria). I am hoping to scale in and also make another final entry when price closes above the current zone. A break of the triangle pattern with a momentum candle could give be a confluence that price is continuing up and willing to break the current key area it has been consolidating in (8 & 14 EMAs have been moving close to each other). My initial target is 1800.00 on all positions. Should price not get to 1800.00, I will have at least locked enough profits.
*Disclaimer*
This is not financial advice. Forex trading is risky. Trade at your own risk.
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