Over the past 10 days, many traders—especially those working on 15-minute and higher timeframes—might have found Gold a bit tedious as it's been somewhat range-bound.
Right now, Gold(
XAUUSD) is sitting in a Support zone($4,004 – $3,895) and is also relatively close to a Resistance zone($4,046 – $4,004).
From a Classical Technical Analysis standpoint on the 1-hour timeframe, it looks like gold has formed a Symmetrical Triangle and it's currently moving near the upper line of this triangle. Additionally, there's a small ascending channel that has formed over the last couple of days, which is something to keep in mind.
In terms of Elliott Wave theory, Gold might be forming a Contracting Triangle that could be completed by the time it finishes wave E.
I expect that Gold may decline at least to the lower line of the symmetrical triangle in the coming hours. If it breaks that lower line, we might see further downside and a clearer direction for gold’s main movement. Otherwise, it could bounce again.
Second Target: $3,913
Stop Loss(SL): $4,04(Worst)
Please respect each other's ideas and express them politely if you agree or disagree.
Gold Analyze (XAUUSD), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅ 'like' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Right now, Gold(
XAUUSD) is sitting in a Support zone($4,004 – $3,895) and is also relatively close to a Resistance zone($4,046 – $4,004).From a Classical Technical Analysis standpoint on the 1-hour timeframe, it looks like gold has formed a Symmetrical Triangle and it's currently moving near the upper line of this triangle. Additionally, there's a small ascending channel that has formed over the last couple of days, which is something to keep in mind.
In terms of Elliott Wave theory, Gold might be forming a Contracting Triangle that could be completed by the time it finishes wave E.
I expect that Gold may decline at least to the lower line of the symmetrical triangle in the coming hours. If it breaks that lower line, we might see further downside and a clearer direction for gold’s main movement. Otherwise, it could bounce again.
Second Target: $3,913
Stop Loss(SL): $4,04(Worst)
Please respect each other's ideas and express them politely if you agree or disagree.
Gold Analyze (XAUUSD), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅ 'like' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Сделка активна
Trade was activated
Stop Loss is $4,037[Stop Loss is written incorrectly in the idea text (sorry)]
Сделка закрыта: достигнута стоп-лосс цена
Stop Loss was touched, and Gold was pumped after the new week started.
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🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
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🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
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🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Похожие публикации
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.