XAUUSD / GOLD Buy Limit Projection – Explanation
Gold faced rejection from the 4060–4062 resistance zone, so a short-term retracement is expected before the next bullish move.
Key Buy Zones
Initial reaction zone: 4048.04–4041.64
This area represents the 50%–61.8% Fibonacci retracement zone. Price may show a temporary bullish reaction here.
Main buy-limit zone: 4021.26–4006.81
This is the stronger demand area, supported by:
Previous breakout structure
Horizontal support
Fibonacci retracement levels
Possible descending trendline retest
The blue projection indicates that price could sweep towards 4021 before reversing upward.
Target Levels
TP1: 4041–4048
TP2: Around 4052
Final target: 4060–4062 resistance zone
Stop-Loss / Invalidation
Stop-loss is marked below 4000, approximately 3997. A strong candle close below 4000–4006 would weaken or invalidate the bullish setup.
Gold faced rejection from the 4060–4062 resistance zone, so a short-term retracement is expected before the next bullish move.
Key Buy Zones
Initial reaction zone: 4048.04–4041.64
This area represents the 50%–61.8% Fibonacci retracement zone. Price may show a temporary bullish reaction here.
Main buy-limit zone: 4021.26–4006.81
This is the stronger demand area, supported by:
Previous breakout structure
Horizontal support
Fibonacci retracement levels
Possible descending trendline retest
The blue projection indicates that price could sweep towards 4021 before reversing upward.
Target Levels
TP1: 4041–4048
TP2: Around 4052
Final target: 4060–4062 resistance zone
Stop-Loss / Invalidation
Stop-loss is marked below 4000, approximately 3997. A strong candle close below 4000–4006 would weaken or invalidate the bullish setup.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.