Plan trading XAU 23.09.20214
➡️ Technical Analysis:
Over a long period of time, Gold has formed a reaccumulation structure, and based on cyclical timing, Gold has broken upwards, creating a SOS (Sign of Strength). I've discussed the cyclical nature of Gold in live sessions multiple times.
On the H4 chart, we can see that it has created a SOS, and currently, we have a Backup/LPS zone around 2523 - 2530 that hasn't been retested yet. It might not happen in the coming week, but Gold will soon return to retest this level.
On a smaller timeframe, like M15, Gold is also forming a reaccumulation range.
There is synchronization across timeframes, so I prioritize a BUY strategy with a full target for this week at 2644.
A key area to focus on is the Swap Point, which I’ve noted at 2600.
Pay attention as the price moves higher and breaks the ATH (All-Time High); there will be increasing selling pressure. If there are sharp drops with large volumes, avoid jumping in immediately. Wait for stable signals before entering trades!
Over a long period of time, Gold has formed a reaccumulation structure, and based on cyclical timing, Gold has broken upwards, creating a SOS (Sign of Strength). I've discussed the cyclical nature of Gold in live sessions multiple times.
On the H4 chart, we can see that it has created a SOS, and currently, we have a Backup/LPS zone around 2523 - 2530 that hasn't been retested yet. It might not happen in the coming week, but Gold will soon return to retest this level.
On a smaller timeframe, like M15, Gold is also forming a reaccumulation range.
There is synchronization across timeframes, so I prioritize a BUY strategy with a full target for this week at 2644.
A key area to focus on is the Swap Point, which I’ve noted at 2600.
Pay attention as the price moves higher and breaks the ATH (All-Time High); there will be increasing selling pressure. If there are sharp drops with large volumes, avoid jumping in immediately. Wait for stable signals before entering trades!
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