Timeframe: 4H
Analysis: Gold is trading within a parallel channel with an uptrend, respecting both support and resistance lines. Currently, price is at the support zone, poised for a potential rejection and upward move.
Additional Confluence: On the daily timeframe, price is at a Fair Value Gap (FVG) zone, which further supports a bullish reversal.
Trade Idea:
- Buy: 3360-3365
- Stop Loss: 3350
- Target: 3490
Rationale: Both Price Action and Smart Money concepts align in favor of a buy opportunity. Let's see if gold bounces off support and FVG zone to reach new highs!
Analysis: Gold is trading within a parallel channel with an uptrend, respecting both support and resistance lines. Currently, price is at the support zone, poised for a potential rejection and upward move.
Additional Confluence: On the daily timeframe, price is at a Fair Value Gap (FVG) zone, which further supports a bullish reversal.
Trade Idea:
- Buy: 3360-3365
- Stop Loss: 3350
- Target: 3490
Rationale: Both Price Action and Smart Money concepts align in favor of a buy opportunity. Let's see if gold bounces off support and FVG zone to reach new highs!
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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.
Join Our Telegram Channel For Getting Signals and Analysis👇👇
t.me/Trade_with_Natasha7
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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.