GOLD MAKE NEW RECORD 2840

This chart is an analysis of the XAU/USD (Gold vs. US Dollar) market on the 1-hour timeframe. Here's the breakdown:

1. Trend Overview:

The price is moving in an upward channel (marked by parallel yellow lines), indicating a bullish trend.

There was consolidation earlier, as shown by the blue shaded channel, but the breakout above this zone signals bullish momentum.



2. Key Levels:

Demand Zone (Resistance): 2840. This is highlighted as a potential resistance area where the price may struggle to break higher.

First Take Profit (TP): 2800. This is the initial target for profit-taking based on the analysis.

Stop Loss (SL): 2748. The stop-loss level is set below recent price support to minimize risk in case the market reverses.



3. Price Movement Expectation:

The yellow arrows indicate an expected upward movement. The price is predicted to move towards 2800 (first TP) and possibly continue towards 2840 (demand zone).

Pullbacks or retests are expected along the way to maintain the bullish structure.



4. Risk Management:

The stop-loss at 2748 ensures risk is contained if the upward momentum fails.

The chart suggests entering around the current level (2773) to target the resistance levels while maintaining proper risk-reward.




This setup relies on the continuation of bullish momentum, with clear entry, target, and risk levels defined