- Price is accumulating sideways in a converging triangle structure after a bounce back to the 4800 area. Overall, the trend is still leaning towards the bullish structure but the price is being compressed below the resistance zone (4788 - 4803) and below the downtrend.
- Multi-timeframe EMA (Daily - H4 - H2 - H1) is in bullish structural consensus when EMA34 is above EMA89.
- The zone (4788 - 4803) is an important resistance zone in the current uptrend. If the price breaks out of this zone, the uptrend will return. The zone (4685 - 4705) is an important support zone in the bullish structure. If this zone is broken, a downward momentum will open because this support zone confluences the bullish dow structure zone.
✅ VIEW:
1. CONTINUE BUYING SCENARIO:
- Price broke the resistance zone (4788 - 4803) and at the same time broke the structure
Lower High.
- Break of the bearish trendline.
=> The bullish structure will recover and head towards higher levels (483x and 485x).
=> The structure increased strongly again when the price completely broke the resistance zone (4853 - 4858).
2. BUY RETEST SCENARIO:
- Price retests the support zone (4685 - 4705) and a price holding signal appears (pin bar / engulfing candle).
- Support zone (4685 - 4705) confluences with bullish DOW structure and key fibo zone (0.5 - 0.618) and EMA34 confluence (H4).
=> When the increasing structure still maintains, Buy is priority.
BUY LIMIT GOLD : 4704 - 4706
STOPLOSS : 4700
✅TP1 : 4710
✅TP2 : 4736
🟠Note : Comply with SL - TP as planned, if you can watch it, be proactive.
- Multi-timeframe EMA (Daily - H4 - H2 - H1) is in bullish structural consensus when EMA34 is above EMA89.
- The zone (4788 - 4803) is an important resistance zone in the current uptrend. If the price breaks out of this zone, the uptrend will return. The zone (4685 - 4705) is an important support zone in the bullish structure. If this zone is broken, a downward momentum will open because this support zone confluences the bullish dow structure zone.
✅ VIEW:
1. CONTINUE BUYING SCENARIO:
- Price broke the resistance zone (4788 - 4803) and at the same time broke the structure
Lower High.
- Break of the bearish trendline.
=> The bullish structure will recover and head towards higher levels (483x and 485x).
=> The structure increased strongly again when the price completely broke the resistance zone (4853 - 4858).
2. BUY RETEST SCENARIO:
- Price retests the support zone (4685 - 4705) and a price holding signal appears (pin bar / engulfing candle).
- Support zone (4685 - 4705) confluences with bullish DOW structure and key fibo zone (0.5 - 0.618) and EMA34 confluence (H4).
=> When the increasing structure still maintains, Buy is priority.
BUY LIMIT GOLD : 4704 - 4706
STOPLOSS : 4700
✅TP1 : 4710
✅TP2 : 4736
🟠Note : Comply with SL - TP as planned, if you can watch it, be proactive.
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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.