The chart shows that gold is currently in a strong bullish trend. Price has broken above a significant supply zone, which now acts as a demand zone. The recent "BOS" (Break of Structure) confirms this bullish momentum.
Trading Strategy
1. Bullish Scenario (Primary):
Entry: Look for a pullback to the key demand zone around the 3,410–3,425 level. This is a high-probability area for a bounce.
Target: The main target for this bullish move is the new week high at 3,500 and potentially extending to 3,520.
Stop Loss: Place your stop loss below the low of the demand zone to protect your capital.
2. Bearish Scenario (Secondary):
Confirmation: A break below the demand zone at 3,410 would invalidate the primary bullish plan.
Target: If this happens, price could retrace back to the D1 Trendline around the 3,350 level.
3. Key Levels to Watch:
Support:
3,410 - 3,425: Major demand zone.
3,380: A minor support level.
3,350: The D1 Trendline.
Resistance:
3,447: Current high.
3,500: Key psychological and structural resistance level.
3,520: Final target.
Important Notes
Risk Management: Always use a proper stop loss and never risk more than 1-2% of your capital on a single trade.
Confirmation: Wait for bullish price action signals like an engulfing candle, pin bar, or double bottom on a lower timeframe before entering a long position.
Market News: Be aware of any high-impact news events that could affect the price of gold.
Trading Strategy
1. Bullish Scenario (Primary):
Entry: Look for a pullback to the key demand zone around the 3,410–3,425 level. This is a high-probability area for a bounce.
Target: The main target for this bullish move is the new week high at 3,500 and potentially extending to 3,520.
Stop Loss: Place your stop loss below the low of the demand zone to protect your capital.
2. Bearish Scenario (Secondary):
Confirmation: A break below the demand zone at 3,410 would invalidate the primary bullish plan.
Target: If this happens, price could retrace back to the D1 Trendline around the 3,350 level.
3. Key Levels to Watch:
Support:
3,410 - 3,425: Major demand zone.
3,380: A minor support level.
3,350: The D1 Trendline.
Resistance:
3,447: Current high.
3,500: Key psychological and structural resistance level.
3,520: Final target.
Important Notes
Risk Management: Always use a proper stop loss and never risk more than 1-2% of your capital on a single trade.
Confirmation: Wait for bullish price action signals like an engulfing candle, pin bar, or double bottom on a lower timeframe before entering a long position.
Market News: Be aware of any high-impact news events that could affect the price of gold.
Real-Time Update + Signals: t.me/+EJlT6QpqU6Q3MGVl
💋 3 - 6 OneShotOneKill (Daily Trading Signals) Daily
💋 Real - Time Plan Update
💋10 - 15 Scalping Signals Daily
💋 Proceed Position and Plan
💋 3 - 6 OneShotOneKill (Daily Trading Signals) Daily
💋 Real - Time Plan Update
💋10 - 15 Scalping Signals Daily
💋 Proceed Position and Plan
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.
Real-Time Update + Signals: t.me/+EJlT6QpqU6Q3MGVl
💋 3 - 6 OneShotOneKill (Daily Trading Signals) Daily
💋 Real - Time Plan Update
💋10 - 15 Scalping Signals Daily
💋 Proceed Position and Plan
💋 3 - 6 OneShotOneKill (Daily Trading Signals) Daily
💋 Real - Time Plan Update
💋10 - 15 Scalping Signals Daily
💋 Proceed Position and Plan
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.