Xauusd gold analysis NFP news
Gold (XAU/USD) Trade Idea - Based on the Chart Analysis
Key Price Levels:
Resistance Zone (Sell Area): $2,920 - $2,925
Support Zone (Target Area): $2,880 - $2,879
Trade Setup (Sell Idea):
1. Entry (Sell Limit): Around $2,920 - $2,925 (Resistance Zone)
2. Take Profit (TP): $2,880 - $2,879 (Support Area)
3. Stop Loss (SL): Above $2,930 - $2,935 (Above Resistance to avoid false breakouts)
4. Risk-to-Reward Ratio: ~1:4 (Good Risk Management)
Technical Analysis Confirmation:
Price is testing a strong resistance zone, which could cause a reversal downward.
Volume analysis shows potential rejection at resistance.
Bearish pattern formation suggests a downside move.
Additional Considerations:
If NFP data is negative for USD, Gold might break resistance instead of dropping.
If Gold fails to break resistance, a sell trade is valid as per the chart setup.
Watch for confirmation candles before entering the trade.
Key Price Levels:
Resistance Zone (Sell Area): $2,920 - $2,925
Support Zone (Target Area): $2,880 - $2,879
Trade Setup (Sell Idea):
1. Entry (Sell Limit): Around $2,920 - $2,925 (Resistance Zone)
2. Take Profit (TP): $2,880 - $2,879 (Support Area)
3. Stop Loss (SL): Above $2,930 - $2,935 (Above Resistance to avoid false breakouts)
4. Risk-to-Reward Ratio: ~1:4 (Good Risk Management)
Technical Analysis Confirmation:
Price is testing a strong resistance zone, which could cause a reversal downward.
Volume analysis shows potential rejection at resistance.
Bearish pattern formation suggests a downside move.
Additional Considerations:
If NFP data is negative for USD, Gold might break resistance instead of dropping.
If Gold fails to break resistance, a sell trade is valid as per the chart setup.
Watch for confirmation candles before entering the trade.
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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.
Trade XAU/USD with expert signals Join World Expert Trading for reliable, profitable Gold trading insights Start now [t.me/WorldExpertTrading1]
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.