Gold Price Action Analysis: Key Levels and Trade SetupsFXOPEN:XAUUSD Gold Price Action Analysis: Key Levels and Trade Setups
Analysis:
Price Action Strategy:
Support and Resistance Levels:
Key support levels: 2,536.664, 2,582.264, 2,601.810
Key resistance levels: 2,642.252, 2,670.000, 2,721.410
Fibonacci Retracement Levels:
0.382 at 2659.51836
0.5 at 2640.4
0.618 at 2621.28164
0.705 at 2607.1859
0.786 at 2594.06228
Volume Profile:
High volume node around 2,642.252 indicating strong resistance.
Low volume node around 2,601.810 indicating potential support.
Smart Money Concepts (SMC):
Break of Structure (BOS):
BOS observed around 2,536.664 indicating a potential bullish reversal.
Change of Character (ChOCH):
ChOCH observed around 2,601.810 indicating a shift in market sentiment.
ICT Strategy:
Order Blocks:
Bullish order block around 2,536.664
Bearish order block around 2,642.252
Fair Value Gaps:
Fair value gap observed between 2,601.810 and 2,621.348
Indicators:
Relative Strength Index (RSI):
RSI is around 51.36, indicating a neutral market condition.
Moving Average Convergence Divergence (MACD):
MACD is slightly bearish with a histogram value of -0.061.
VIP Signal:
Buy Signal:
entry: 2601.810
tp1: 2642.252
tp2: 2670.000
sl: 2582.264
Sell Signal:
entry: 2642.252
tp1: 2601.810
tp2: 2582.264
sl: 2670.000
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always do your own research before making any trading decisions.
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