Gold buying opportunity from here (Read caption)
Hello everyone, what are your thoughts about the Gold share in comments section below.
Let's get to my prepared chart, it represents the (XAU/USD) 1-hour timeframe showing a technical analysis setup with key price levels and a potential trading opportunity.
Key Elements:
1. Support and Resistance:
Support Zone: 2744 - 2740 (highlighted in green)
Resistance Level: 2786 (highlighted in red)
All-Time High: 2790.423 (marked in orange)
2. Trade Setup:
Entry Point (EP): 2760
Stop Loss (SL): 2750
Take Profit (TP1): 2766
Take Profit (TP2): 2776
3. Chart Pattern:
The price movement suggests a potential cup-and-handle pattern, a bullish continuation pattern.
The curved lines indicate the formation of the cup shape, and a breakout above the resistance could lead to an upward move.
4. Price Action & Indicators:
The price is currently around 2761.855, near the proposed entry point.
If it breaks the 2760 level and sustains above it, the next targets are 2766 and 2776.
A bullish arrow is drawn, indicating the expected movement towards the targets.
Analysis Summary:
The chart suggests a bullish outlook if the price holds above the entry point and breaks the resistance.
A breakout above 2786 could push gold toward the all-time high of 2790.423.
The stop-loss at 2750 limits downside risk in case of reversal.
This setup is ideal for traders looking for a short-term bullish opportunity in gold trading.
Let me repeat the key levels:
Gold Buy entry 2760-58
TP 1 at 2766
TP 2 at 2776
SL at 2750.
Thanks a lot my dear followers for you time and support. Kindly like comment and share my ideas. Have a safe and profitable trading.
Note: This is for educational purposes not trading advice.
Let's get to my prepared chart, it represents the (XAU/USD) 1-hour timeframe showing a technical analysis setup with key price levels and a potential trading opportunity.
Key Elements:
1. Support and Resistance:
Support Zone: 2744 - 2740 (highlighted in green)
Resistance Level: 2786 (highlighted in red)
All-Time High: 2790.423 (marked in orange)
2. Trade Setup:
Entry Point (EP): 2760
Stop Loss (SL): 2750
Take Profit (TP1): 2766
Take Profit (TP2): 2776
3. Chart Pattern:
The price movement suggests a potential cup-and-handle pattern, a bullish continuation pattern.
The curved lines indicate the formation of the cup shape, and a breakout above the resistance could lead to an upward move.
4. Price Action & Indicators:
The price is currently around 2761.855, near the proposed entry point.
If it breaks the 2760 level and sustains above it, the next targets are 2766 and 2776.
A bullish arrow is drawn, indicating the expected movement towards the targets.
Analysis Summary:
The chart suggests a bullish outlook if the price holds above the entry point and breaks the resistance.
A breakout above 2786 could push gold toward the all-time high of 2790.423.
The stop-loss at 2750 limits downside risk in case of reversal.
This setup is ideal for traders looking for a short-term bullish opportunity in gold trading.
Let me repeat the key levels:
Gold Buy entry 2760-58
TP 1 at 2766
TP 2 at 2776
SL at 2750.
Thanks a lot my dear followers for you time and support. Kindly like comment and share my ideas. Have a safe and profitable trading.
Note: This is for educational purposes not trading advice.
Trade active
Active trades from entry point.Trade closed: target reached
All tp hit successfully guys at 2776
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