Happy Newyear XAUUSD (GOLD)
Gold will continue to trend sideways during the holidays. The expected target if increased will not exceed 2650 and decreased not less than 2600.
Key Zones:
Supply Zone:
Located between 2,629 and 2,634. This is a significant resistance area where selling pressure might occur, leading to a potential price reversal downward.
Demand Zones:
Demand M15: A smaller demand zone on the 15-minute timeframe, located between 2,611 and 2,612. This zone is expected to see a short-term price reaction upwards.
Demand H1: A stronger demand zone on the hourly timeframe, located between 2,604 and 2,608. This acts as a more robust support level if the price declines further.
FVG H1 (Fair Value Gap):
Positioned above the Supply Zone. This indicates an imbalance in liquidity on the H1 timeframe, where the price might revisit to fill the gap.
2. Price Pattern:
Neckline Bottom Pattern:
The price is testing the neckline level (indicated by the horizontal black line). A breakout above the neckline could trigger further upward momentum toward the Supply Zone.
3. Trading Scenarios:
Bearish Scenario:
Entry Point (Sell): Around the Supply Zone (2,629 – 2,634).
Stop Loss: Above the Supply Zone, approximately at 2,635.
Take Profit:
First target: Demand M15 (2,612).
Second target: Deeper level at Demand H1 (2,604).
Bullish Scenario:
Entry Point (Buy): Around Demand M15 (2,612) or Demand H1 (2,604).
Stop Loss: Below the Demand H1 zone, around 2,603.
Take Profit:
First target: The neckline level or around 2,624.
Second target: Supply Zone (2,629 – 2,634).
4. Key Notes:
Ensure confirmation of price reaction at each zone before entering trades (e.g., candlestick patterns, volume spikes, or momentum indicators like RSI or MACD).
Monitor price behavior around the neckline. A strong breakout could invalidate the bearish scenario.
Key Zones:
Supply Zone:
Located between 2,629 and 2,634. This is a significant resistance area where selling pressure might occur, leading to a potential price reversal downward.
Demand Zones:
Demand M15: A smaller demand zone on the 15-minute timeframe, located between 2,611 and 2,612. This zone is expected to see a short-term price reaction upwards.
Demand H1: A stronger demand zone on the hourly timeframe, located between 2,604 and 2,608. This acts as a more robust support level if the price declines further.
FVG H1 (Fair Value Gap):
Positioned above the Supply Zone. This indicates an imbalance in liquidity on the H1 timeframe, where the price might revisit to fill the gap.
2. Price Pattern:
Neckline Bottom Pattern:
The price is testing the neckline level (indicated by the horizontal black line). A breakout above the neckline could trigger further upward momentum toward the Supply Zone.
3. Trading Scenarios:
Bearish Scenario:
Entry Point (Sell): Around the Supply Zone (2,629 – 2,634).
Stop Loss: Above the Supply Zone, approximately at 2,635.
Take Profit:
First target: Demand M15 (2,612).
Second target: Deeper level at Demand H1 (2,604).
Bullish Scenario:
Entry Point (Buy): Around Demand M15 (2,612) or Demand H1 (2,604).
Stop Loss: Below the Demand H1 zone, around 2,603.
Take Profit:
First target: The neckline level or around 2,624.
Second target: Supply Zone (2,629 – 2,634).
4. Key Notes:
Ensure confirmation of price reaction at each zone before entering trades (e.g., candlestick patterns, volume spikes, or momentum indicators like RSI or MACD).
Monitor price behavior around the neckline. A strong breakout could invalidate the bearish scenario.
Disclaimer
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