#XAUUSD/GOLD breaks out, is it a long-term buying opportunity?
After breaking through the resistance zone of 2430-2433, the current gold price is forming a peak around 245x, with the breakout at 2386 giving gold an upward momentum again.
The market is very difficult to trade, and the trading trend for the Europe - US session is BUY. Key price areas to watch are 2428-2432 and 2390-2400. If the price fills this liquidity area, it will be an opportunity for us to target the peak zone of 2480-2484.
Recommended orders:
Plan 1: BUY XAUUSD zone 2429 - 2432
SL 2426
TP 2435 - 2450 - 2373.
Plan 2: BUY XAUUSD zone 2390 - 2393
SL 2387
TP 2400 - 2430 - 2373.
Plan 3: SELL XAUUSD zone 2451-2453
SL 2457
TP 2448 - 2440 - 2432 (small volume).
The market is very difficult to trade, and the trading trend for the Europe - US session is BUY. Key price areas to watch are 2428-2432 and 2390-2400. If the price fills this liquidity area, it will be an opportunity for us to target the peak zone of 2480-2484.
Recommended orders:
Plan 1: BUY XAUUSD zone 2429 - 2432
SL 2426
TP 2435 - 2450 - 2373.
Plan 2: BUY XAUUSD zone 2390 - 2393
SL 2387
TP 2400 - 2430 - 2373.
Plan 3: SELL XAUUSD zone 2451-2453
SL 2457
TP 2448 - 2440 - 2432 (small volume).
Note
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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.
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.