XAUUSD, Weekly analysis for Feb 6-10Gold against the Dollar pair had a good bullish run in January 2023, price action displayed a majestic bull run all the way from 1800 to the 1950 price mark,
but 1950 behaves as a supply zone and it starts to push the price downwards currently
price may look to retouch a demand zone waiting down , but last week closing price 1865 behaving as a considerable support area , this week the gold may
go high to retouch the last week's break out price zone of 1910 before going further down below 1865 mark
Xauusdtrading
XAUUSD Bullish on a consistent Channel UpGold is trading inside a Channel Up for the whole month of January.
Every impulse rise has been +/- 2.80%. At the moment we are in the middle of the latest impulsive wave.
Trading Plan:
1. Buy on the spot.
2. Sell if the MA50 4H breaks.
Targets:
1. 1950 (2.80% rise)
2. 1880 (top of the Demand Zone).
Tips:
1. The MA50 4H hasn't been crossed since Dec 29th. This means that Gold is very clear on its current bullish trend but even clearer on what its support is and what will follow when it breaks.
2. The RSI is moving downwards posting Lower Lows. Possible bearish divergence.
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What You Can See VS What You Can Think/FeelIn this video we will discuss the ultimate lesson in Trading... So listen up and pay attention.
The analogy used in this video should clear your mind entirely of any misunderstandings about the phrase mentioned in the title.
By Nature, making informed decisions ALWAYS relies on something that has previously happened to predict the future. That is the only logical basis one can go off in any decision making scenario.
If you are not doing this in the Financial Markets then you are gambling by nature.
We also go over my Gold Analysis near term / Future.
Watch on to learn more.
XAUUSD Important Plans / LevelsWell we mentioned also on XAUUSD we can LIGHTLY long if confident enough.
So there is your bounce. It's up to early resistance and you have the chance to exit..
If you do not exit are you willing to be dragged lower?
Does there look like a tight or wide profit margin?
All questions one must ask..
⭕Best BUY & SELL areas GOLD 💣🧨🔰You can see the gold analysis in the 15-minute time frame (XAUUSD_15min)🔍
✴️As is evident in the picture, the price is falling❗❗ The price can perform an uptrend up to the resistance🧡 line and downtrend🖤 line in the overlap of the DEMAND area and the uptrend🖤 line and 61.8% retracement fibonacci 💜 (from point A_B). If it breaks the resistance🧡 line upwards, it can climb to the SUPPLY range, if it can also break the mentioned SUPPLY range upwards, it can have another upside to the next supply range🧐🔺
But if the price can stabilize itself below the uptrend🖤 line, it can have a downtrend to the DEMAND range🧐🔻
which direction will the price go to the GREEN💚 side or the RED❤️ side❓❓
I hope the analysis was useful for you🤍🌹
📌Please introduce the channel to your friends 🙏🏻
____________📈TRADER STREET📉_______________
⭕️BEST place and price for BUY GOLD❗️
🔰You see the analysis of the GOLD in four hours ( XAUUSD , 4H) ❗️🔎
🔰BUY Limit XAUUSD at 1833
✅TP ; 1873 (+4000 pips)
❌SL ; 1820 (-1300 pips)
📊R/R ; 0.32 (This number is derived from the division of Risk to Reward and must always be less than one, and the less it is, the better🧐)
🔰BUY Limit XAUUSD at 1833
✅TP ; 1900 (+6700 pips)
❌SL ; 1820 (-1300 pips)
📊R/R ; 0.19 (This number is derived from the division of Risk to Reward and must always be less than one, and the less it is, the better🧐) 🔥🔥
🔰Due to the gold downtrend, the best area for buying is at the cross of the uptrend line and the demand area and support line. The first target is on the Nanji Rang resistance line and the second target is in the confluence of the downtrend line and supply range.💰👌
⚠️⚠️🔥Take a look at GOLD Analysis step by step on YouTube🔥⚠️⚠️
⚠️⚠️Please observe capital management and open a low volume transaction❗️❗️
I hope this analysis is useful for you🙏🏻🌹
📌Please introduce the "TRADER STREET" to your friends 🙏🏻
_______________________📈TRADER STREET📉________________________