Gold Consolidates Near 2750-60: 2800 Ahead AS EXPECTED....
Gold is showing buying bias and current price is trading around 2,762, showing bullish momentum in an uptrend,Formation of higher highs and higher lows is still intact.
Notable liquidity pool visible around 2,780 area (Immidiate resistance) which acted as resistance and seems like bulls are ready to take this liquidity soon as Several order blocks formed between 2,740-2,750 acting as support also FVG visible around 2,735-2,740 region,Higher volume spikes during upward movements indicating buyer strength and volume divergence minimal, supporting the current trend so Overall trend remains bullish as shared in previos posts and weekly analysis video also and I am still holding my buy positions and now I moved my Stop to risk free level for gold and silver.
Key levels to watch:
Support: 2,748 (Pivot level), 2,711 (S1)
Resistance: 2,780, 2,808 (R1)
Commodities
Gold Surges Ahead of FOMC – Big Moves Coming!📈 Gold Unexpectedly Surges Ahead of FOMC Data – Prepare for Major Volatility 🚀
🔍 Market Overview
After a sharp 60-pip drop at the market open, gold made an unexpected recovery yesterday. Currently, on the H1 chart, price is approaching the 0.618 Fibonacci level, but the reaction here seems weak.
If sellers do not step in with enough strength, gold could continue rising toward the 0.786 Fibonacci zone at 2769 - 2771, where we need to observe price action carefully before entering trades. A key trendline resistance marks the highest barrier in this range.
💡 Key Market Influences:
Asian Bank Holiday (Lunar New Year): Liquidity will be significantly lower today, which may lead to a tighter price range in the Asian and early European sessions.
FOMC Data Release Tonight: The market will closely watch the statements from Fed Chairman Powell, as they could have a major impact on USD (DXY) and set the long-term direction for gold.
📊 Trading Strategy
During the Asian and European sessions, gold may maintain a bullish bias. Look for early BUY opportunities if the price holds around 2763 - 2765.
Wait for clear signals from FOMC before committing to strong positions during the US session.
💡 Intraday Trading Plan
BUY SCALP: 2755 - 2753
SL: 2750
TP: 2760 - 2763 - 2766 - 2770 - ????
BUY ZONE: 2743 - 2741
SL: 2736
TP: 2748 - 2752 - 2755 - 2760 - 2765 - 2770
SELL SCALP: 2771 - 2773
SL: 2776
TP: 2766 - 2762 - 2758 - 2752 - 2748 - 2745
SELL ZONE: 2785 - 2787
SL: 2792
TP: 2783 - 2780 - 2776 - 2772 - 2768 - 2765
⚠️ Important Notes
🔹 Low liquidity in the market could lead to unexpected price swings.
🔹 Be cautious with trades ahead of the FOMC release, as it will determine the next move for USD (DXY) and gold.
🔹 AD’s View: Gold may continue rising before dropping sharply if the FOMC releases statements favoring USD. However, price action confirmation is crucial before entering trades.
👉 Always follow TP/SL to protect your capital and maximize profits!
📢 Take Action Now!
👉 Follow KevinNguyen-SimpleTrade for expert market analysis and high-probability trading strategies! 🚀
👉 Share your thoughts and comment on gold’s expected movement today! 💰
GOLD TRADING POINT UPDATE < READ THE CHAPTIANBuddy'S dear friend 👋
SMC Trading Signals Update 🗾🗺️ Gold traders SMC trading point update you on New technical analysis setup for Gold 🪙 After FOMC meeting 🤝💯 trot aril analysis setup breakout one said that entry open 👐 target 2766 close above more Bull Trend target 2780 2803 if close below 👇 2740 next target we'll see 2730 2692 MA support
Key Resistance level 2766 + 2772 + 2786 + 2803 New ATH
Key support 2730 2692
Support 💫 My hard analysis setup like And Following 🤝 me that star ✨ game 🎮
USOIL - BULLISH TREND WILL CONTNUE ?Symbol - USOIL
The USOIL has recently experienced a decent correction within its uptrend, which has provided an opportunity for price consolidation before the potential continuation of the bullish trend. This correction has allowed the market to stabilize, and the recent price action suggests that the uptrend is likely to resume, supported by a combination of supply constraints and growing demand expectations.
Geopolitical tensions and OPEC production cuts continue to play a significant role in influencing oil prices, while global economic recovery, particularly in major consuming nations, provides further optimism for sustained demand. These factors are likely to continue supporting oil prices as market participants remain cautious about future supply disruptions. With the recent correction now completed, USOIL appears poised for further upward momentum, especially if these bullish fundamentals continue to hold.
Technically, the key support level to watch is $72.50 - $73.00 If this level is defended by the bulls, the price is likely to push towards the $78.00 - $80.00 range, which represents the next major resistance zone.
Resistance levels: $78.00, $80.00
Support level: $73.00
The price has recently tested the $73.50 support zone. A potential false breakdown could occur here, aimed at capturing liquidity before prices resume their upward trajectory. With the correction phase likely behind us, renewed buying interest in USOIL could drive prices higher as the uptrend continues to unfold.
NATURAL GAS - CAPPED UPSIDE & MORE DOWNSIDE?Symbol - XNGUSD
Natural Gas has recently been trading within a wedge pattern, which has now broken to the downside. This technical development suggests that the upside potential appears capped for the time being. The market is currently testing critical levels, and the broader outlook seems to be more focused on downward movement in the short to medium term.
There is a possibility of a breakdown retest around the 3.25 - 3.30 area, which could act as a key resistance zone. If this level holds, we could see a sell-off, confirming further downside pressure. The outlook for Natural Gas, in this context, leans bearish, with the price potentially targeting the 2.80 - 2.70 range in extension.
The market is closely watching weather forecasts and energy inventories, with any cold weather or supply disruptions potentially offering temporary support. However, unless these fundamentals change significantly, the technical breakdown suggests limited upside potential and further downside risks.
Resistance levels: 3.28, 3.20
Support levels: 3.00, 2.80
Technically, the current outlook favors a move lower, with further downside expected if the price fails to reclaim the 3.25 - 3.30 resistance. Should the retest of these levels hold, we could see a sell-off towards the 2.80 - 2.70 area. A failure to hold above the 3.10 support would reinforce the bearish sentiment and suggest further declines.
Silver Commodity - Breakout in Day TimeFrameSince September, silver futures have been consolidating, indicating a period of price stability and indecision among traders. As of today, January 30, 2025, the market has experienced a breakout from the established trendline, signaling a potential shift in momentum. This breakout could suggest renewed buying interest and the possibility of upward price movement, making it an opportune time for traders to reassess their positions and strategies in light of this development.
XAU#9: FED keeps interest rates unchanged. Information supportin💎 💎 💎 The previous plan helps you make a profit. Please like and follow the channel to follow the earliest trading plan 💎 💎 💎
🔥So Gold has returned to the support zone of 2745 and reacted strongly as the previous plan. Here's our next trading plan 🔥
1️⃣ **Fundamental analysis:**
📊 🔴Market speculation that US may impose import tariffs on gold
London gold market participants are racing to borrow central bank gold stored in London as gold deliveries to the US surge on speculation that the US may impose import tariffs
🚀 🔴Fed keeps rates unchanged, drops mention of inflation "progress" in policy statement
2️⃣ **Technical analysis:**
🔹 **D frame:** yesterday closed as a Hanging Man candle. However, the price action after this candle still needs market confirmation in today's trading session
🔹 **H4 frame:** The support zone of 2745 is playing an important role. The price is still in an upward structure.
🔹 **H1 frame:** The trendline zone that matches the support of 2745 is showing a strong reaction after the interest rate announcement. If the price can break through the resistance zone above, Gold will have enough momentum to break through the old peak
3️⃣ **Trading plan:**
⛔ In the current area, it will be risky if we take a SELL position here. Although it is also a resistance zone, H4 has a hugging candlestick pattern with an increasing structure. If H4 closes at 2752, we will consider this option later
✅If anyone has an order in the 2745 area, Congratulations!!! You can wait for a higher profit. If not, you can choose to react to test the trendline again on the H1 frame for confirmation. We will wait for a price structure on a small time frame like m15 to establish a position.
💪🚀 **Wish you successful trading!**
📌 For any questions, please contact directly. I am ready to answer for you for free
#trading #trade #xauusd #newtrader #newbie #xau #forex #tradingview #plants #trader #tradingforex
XAU/USD 4H Analysis: Bullish Momentum Towards $2,780📊 XAU/USD 4H Chart Analysis – Bullish Momentum 🚀💰
📌 Key Observations:
🔹 Current Price: $2,754.16 (+0.19%)
🔹 Support Zone: $2,740 - $2,750 (Previous resistance turned support ✅)
🔹 Resistance Zone: $2,780 (Next potential target 🎯)
🔹 200 EMA: $2,687.43 (Price is above = Bullish signal 📈)
🔹 Breakout Confirmation: Price has broken past a key level and might retest before moving higher 🔄📊
📉 Potential Scenarios:
✅ Bullish Case: If price holds above $2,750, we could see a rally towards $2,780+ 🚀
❌ Bearish Case: If price drops below $2,740, we might see a correction back to $2,720 ⚠️
🔥 Conclusion:
Gold is showing strong bullish momentum and may continue its uptrend towards $2,780+ if it sustains above the breakout level! Keep an eye on support at $2,750 for confirmation. 👀💎
Tell me in Comments Would you like further indicators or a different timeframe analysis? ⏳📊
Gold (XAU/USD) Approaching Key Resistance Breakout or Rejection?1. Price Trend & Structure
The price is moving inside an ascending channel with well-defined support and resistance trendlines.
Within the larger channel, a smaller parallel channel has formed in recent price action, showing short-term bullish momentum.
2. Key Levels
Resistance: The price is approaching the upper boundary (~2,840), which may act as a selling zone.
Support: The lower boundary (~2,640) is acting as a strong buying zone.
EMA 200 (2,697.468): The price is above the 200 EMA, indicating an overall bullish trend.
3. Possible Scenarios
Bullish Case: If the price breaks above resistance (~2,840), it may continue higher.
Bearish Case: If the price gets rejected at resistance, it could fall towards the lower channel support (~2,640).
Short-term Retracement: Since the price is near the upper boundary, a pullback towards the midline or EMA 200 (~2,700) could occur.
4. Market Sentiment
Uptrend confirmed: The price has consistently made higher highs and higher lows.
EMA support: As long as the price stays above EMA 200, the bullish sentiment remains strong.
Conclusion
The market is currently bullish but approaching resistance.
Watch for a potential breakout or rejection.
Traders may look for buying opportunities on pullbacks or shorting opportunities near resistance with confirmation.
GOLD SHOWING A GOOD UP MOVE WITH 1:7 RISK REWARD GOLD SHOWING A GOOD UP MOVE WITH 1:7 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
Gold under Pullback /correction As dicussed in weekly analyis video and previous posts , price currently under a pullback and we have to wait for lower pullback zones for re-buying ::
- First Pullbcak zone: 2755-2760 (marked in green, first zone , price currently testing this zone)
- Second Pullbcak zone: 2735-2740 (green zone in Middle)
- Third Pullbcak zone: 2720-2725 (Last green zone, we also have first Fib support level for the cycle of 2585-2785)
Swing to Intra day Approach:
Rather than buying immediately, waiting for a deeper pullback can provide us a good risk management, looking for buy setups at these pullback zones makes sense given overall bullish trend structure remains intact,These levels align with previous structure(Swing High, Low) with Better risk-reward ratio from these lower entries.
Gold’s Weekly Start: Price Gap Sparks Key Trading Opportunities📉 Daily Plan for XAUUSD: Gold Opens the Week with a Price Gap
🔍 Market Overview
As anticipated in last week's analysis, the market opened this Monday with a price gap (GAP) due to the strong selling pressure seen late last week. The gap spans approximately 5 points, with gold dropping from $2,770 to $2,764.9.
This movement aligns with previous views that gold has revisited its all-time high, where significant sell orders awaited, resulting in a dominant SELL momentum at this level. Confirmed reversal patterns are now visible on H4, H2, and H1 timeframes.
📊 Technical Insights
Current Price Range:
Gold is fluctuating between $2,773 and $2,756, forming a temporary range of about 17 points. This range is expected to hold during the Asian and European sessions unless disrupted by key market data later in the week.
Key Levels to Watch:
Resistance Zones:
$2,786 - $2,784 (Major Resistance)
$2,778 - $2,772 (Short-Term Resistance)
Support Zones:
$2,759 - $2,761 (Immediate Support)
$2,750 - $2,745 - $2,735 (Stronger Support Zones)
Market Behavior:
If price remains below $2,773, SELL momentum will likely dominate.
A breakout above this level will invalidate short-term sell strategies, prompting the need to wait for higher entries.
Sideways movement may persist due to lower liquidity during the Asian session.
💡 Trading Strategy Ideas
BUY ZONE: $2,746 - $2,744
Stop-Loss: $2,740
Take-Profit: $2,750 - $2,754 - $2,757 - $2,760
BUY SCALP: $2,759 - $2,757
Stop-Loss: $2,753
Take-Profit: $2,763 - $2,765 - $2,768 - $2,771
SELL ZONE: $2,784 - $2,786
Stop-Loss: $2,790
Take-Profit: $2,780 - $2,776 - $2,772 - $2,768 - $2,764
SELL SCALP: $2,772 - $2,774
Stop-Loss: $2,778
Take-Profit: $2,768 - $2,765 - $2,760 - $2,756 - $2,750
⚠️ Important Notes:
Market Liquidity: The Asian session lacks liquidity today, which could cause erratic price movements.
Risk Management: Always set Take-Profit (TP) and Stop-Loss (SL) levels to safeguard your account during volatile conditions.
📢 What’s Your Take?
Do you think gold will break below its current range or consolidate for a bigger move?
👉 Follow KevinNguyen-SimpleTrade for more in-depth market insights and daily trading plans! 🚀
XAUUSD Analysis: Potential Bearish Pullback Towards Key Support📉 XAUUSD Daily Analysis 🔍
🚨 Potential for a Bearish Pullback 🚨
Gold (XAUUSD) is showing signs of a potential downward move after rejecting a key resistance level. If this momentum continues, we could see the price heading towards the support zone at 2680/2670.
💡 Key Insights:
📌 Market rejection at resistance = possible bearish momentum.
📌 Target support area: 2680/2670.
📌 Risk Management: Stick to 1-2% risk on trades.
⚠️ Historical Note:
When the market last hit an all-time high, it saw a sharp one-day drop. Stay cautious!
💬 Disclaimer: This is for educational purposes only. Always trade responsibly and manage your risk effectively.
EURUSD - 1H LONGFOREXCOM:EURUSD
Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied...
Keep trading
Hustle hard
Markets can be Unpredictable, research before trading.
Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!
BTC | GOLD | WEEKLY | PRICE ACTION ANALYSIS | HINDIThank you so much for watching my video on BTC and gold price action analysis. I really appreciate your time and support. I hope the analysis provided some useful insights into the market trends. Feel free to drop any questions or thoughts you may have
Gold’s Liquidity Gap: Bearish Signals Align with Market Shifts🔍 Insights from FVG (Fair Value Gaps):
The chart highlights key Fair Value Gaps (FVG) – liquidity voids that price tends to revisit and fill.
FVG acts as a magnet: Prices often retrace to these zones to rebalance liquidity.
Currently, gold is trading near the strong resistance level of $2,786, which could trigger a significant correction.
📊 Key Levels to Watch:
Major Resistance Zone:
$2,786 - $2,790: This is a strong resistance area where a reversal is highly probable if selling pressure dominates.
Important FVG Zones:
$2,728 - $2,683: Price is likely to revisit this zone to fill the liquidity gap.
$2,580: If selling pressure persists, this zone will be the next target.
🔄 Market Behavior and SWAP CHARGE Alignment:
SWAP CHARGE shifting from buying to selling:
This is a strong indicator that selling volume is gaining dominance, aligning with the likelihood of price retracing to lower FVG levels.
Formation of a bearish trend:
Failure to break the $2,786 resistance and potential retracement toward lower FVG zones reinforce the expectation of a bearish cycle.
💡 Conclusion:
Forecast: Given the current market behavior and SWAP CHARGE data, it is highly likely that gold prices will correct toward lower FVG zones such as $2,728, $2,683, and even $2,647.
Trading Strategy Tips:
Closely monitor price reactions at major resistance levels before entering trades.
Use the FVG zones as key targets when the bearish trend is confirmed.
👉 Reminder:
Always set your TP/SL levels to protect your account and manage risks in this volatile market.
📢 Follow KevinNguyen-SimpleTrade for more in-depth analysis and effective trading strategies! 🚀
GOLD: Will a Pullback Follow This Rally?📊 Technical Analysis Recap:
Following yesterday’s analysis, our market outlook remains on point, delivering a 100-pip profit from our BUY signal. While there have been minor pullbacks, they’ve not been significant enough to break the market’s bullish structure. Our weekly plan has aligned perfectly with the arrows plotted on the chart.
🔍 Key Market Insights for Today:
The higher timeframe remains bullish, with GOLD nearing critical resistance levels that may signal a potential strong pullback as the week closes.
GOLD continues to trade within an ascending channel, with additional BUY opportunities marked on the chart (dashed lines).
⚡️ Key News Events:
Today features the release of Flash Manufacturing PMI and Flash Services PMI data. While not major drivers, being the final trading day of the week, these events could trigger 30-35 points of volatility.
Keep an eye on potential spikes toward upper resistance levels, which could set the stage for a significant pullback. For now, we continue to focus on the bullish trend, with updates to come during the European and U.S. sessions.
📈 Key Resistance Levels:
🟥 2774 - 2782 - 2788
📉 Key Support Levels:
🟩 2754 - 2745 - 2736 - 2724
🎯 Suggested Trading Strategies:
🟢 BUY SCALP:
Entry: 2745 - 2743
SL: 2739
TP: 2748 - 2751 - 2755 - 2760
🟢 BUY ZONE:
Entry: 2738 - 2736
SL: 2732
TP: 2742 - 2746 - 2750 - 2755 - 2760
🔴 SELL SCALP:
Entry: 2774 - 2776
SL: 2780
TP: 2770 - 2766 - 2762 - 2758 - 2752
🔴 SELL ZONE:
Entry: 2788 - 2790
SL: 2795
TP: 2785 - 2782 - 2778 - 2772 - 2766 - 2760
⚠️ Important Notes:
📌 Trade Carefully: Volatility may spike during the week’s closing sessions.
📌 Watch for Reversals: Look for signs of significant corrections near key resistance levels.
👉 Stay tuned for real-time updates during the European and U.S. sessions!
💬 Share your thoughts in the comments!
📢 Follow KevinNguyen-SimpleTrade for daily insights, actionable strategies, and precise trade setups. Let’s conquer the market together! 🚀
Gold Hits 3-Month High Amid Uncertainty 🌍 Market Update:
Gold surged to its highest level in nearly three months on Wednesday, January 22, trading just below its record high. The rally is driven by:
✨ Key Drivers:
💵 Weak USD: The USD Index hit a 3-week low, making gold more attractive for non-USD holders.
📉 Policy Uncertainty: Lack of clarity on Trump’s trade and economic policies supports gold as a safe-haven asset.
🔍 Trump’s Speech Insight:
During the inauguration, no clear economic or tariff policies were announced, hinting at strategic priorities. This fuels USD correction and strengthens gold. However, a pro-USD statement could trigger a sharp reversal, so stay cautious.
📈 Market Sentiment:
🟢 Bullish Trend: Gold remains strong but approaches critical resistance levels on D1 and H4.
❗ Caution: Avoid selling until reversal patterns or strong bearish signals emerge.
📊 Key Levels to Watch:
Resistance: 🟥 2764 - 2774 - 2788
Support: 🟩 2745 - 2725 - 2715 - 2705
🎯 Trading Plan for XAUUSD:
🟢 BUY SCALP:
Entry: 2746 - 2744
SL: 2740
TP: 2750 - 2754 - 2758 - 2762
🟢 BUY ZONE:
Entry: 2726 - 2724
SL: 2720
TP: 2730 - 2735 - 2740 - 2750
🔴 SELL SCALP:
Entry: 2774 - 2776
SL: 2780
TP: 2770 - 2767 - 2763 - 2760
🔴 SELL ZONE:
Entry: 2786 - 2788
SL: 2793
TP: 2782 - 2779 - 2775 - 2770
⚠️ Reminder:
📌 Trump’s critical speech today may affect monetary policies and gold prices.
📌 Always follow TP/SL rules to protect your account during high volatility.
👉 What’s your view on gold this week?
💬 Share your thoughts in the comments below!
📢 Follow KevinNguyen-SimpleTrade for daily insights, strategies, and precise trade setups! Together, we conquer the market! 🚀
Gold prices have surged despite the strengthening of the USDThis rise is attributed to the weakening of the USD and uncertainty surrounding the policies of US President Donald Trump. Investor concerns about the potential for a trade war and market volatility have driven demand for gold as a safe-haven asset.
President Donald Trump is currently considering imposing a 10% tariff on imports from China, effective February 1st. This is also the same date he previously announced a 25% tariff on imports from Mexico and Canada.
Given these developments, I expect gold prices to continue rising, primarily due to increased buying for safety ahead of new actions by President Trump. Gold prices are now approaching record-high levels.
Key economic data to watch this week:
- Thursday: Weekly Initial Jobless Claims report in the US
- Friday: S&P Flash PMI and Existing Home Sales data in the US
Based on technical analysis, with support levels at 2,621 and 2,658, gold has maintained its upward momentum. With the latest support at 2,694, gold continues to trend higher and may break through resistance at 2,758. The trendline also indicates a short-term bullish trend.
If there are no significant changes, traders may set stop-loss (SP) at 2,680 and take-profit (TP) at 2,750 to protect profits and minimize risk.
Uptrend Intact: Can Gold Break Through 2800?🌟"Uptrend Intact: Can Gold Break Through $2800? 🌟"
Gold is maintaining its bullish momentum, steadily forming higher highs and higher lows while respecting the upward trendline. The key support zone around 2705 (R1), backed by a demand area and Fair Value Gaps , could act as a launchpad if price pulls back to retest. Resistance levels at 2788 (R2) and 2848 (R3) are in sight as potential upside targets. The red circled area is where I am expecting a possible retracement to fill gaps and grab liquidity as per SMT before resuming the upward move. With liquidity resting above swing highs, the overall view remains bullish, and price looks primed to head toward higher levels as long as support holds strong.
Still holding both Gold and Silver in buy as mentioned in previos updates.
Gold prices rally as market awaits Fed's next moveGold (XAU/USD) continued its weekly uptrend on Thursday, marking its third consecutive day of gains. The precious metal surged past $2,760 per troy ounce for the first time since early November, fueled by lingering uncertainty surrounding announcements from President Trump, particularly on tariffs.
The US Dollar (USD) regained some of its recently lost appeal, with the US Dollar Index (DXY) rebounding and moving away from multi-week lows. Meanwhile, US Treasury yields showed mixed movements across different maturities.
On the political front, President Trump announced plans to impose tariffs on the European Union, Canada, and Mexico and disclosed that his administration is considering a 10% tariff on imports from China. He justified this move as a response to fentanyl being smuggled into the United States from China via Mexico and Canada.
Economic and Policy Implications for Gold
While gold is traditionally considered a hedge against inflation, analysts caution that Trump's tariff policies could complicate its outlook. If the tariffs spur inflation, the Federal Reserve (Fed) may be compelled to keep interest rates higher for longer, reducing gold's appeal as a non-yielding asset in a high-rate environment.
What's Next for Gold?
Looking ahead, market focus will likely remain on developments from the White House, especially during a week with few major economic data releases. Investors are also gearing up for the Fed meeting on January 28–29, where interest rates are expected to remain within the 4.25%-4.50% range.
Amid escalating political uncertainty and central bank decisions, gold remains a crucial asset to monitor, with potential for further volatility.
Technical Analysis of Gold Prices
A close look at the 4-hour technical chart reveals a persistent uptrend, as gold has broken above the resistance line of its ascending wedge channel. This resistance is now acting as a new support level, indicating the potential for further upside momentum. Technically, a swift breakout above $2,760 and consolidation above $2,763 would likely accelerate the rally. Conversely, if gold breaches its support, it could retest lower levels, such as the $2,723 zone (aligned with the 0.618 Fibonacci retracement level), before resuming its long-term bullish trend.
Trading Strategy
For now, a buying strategy remains favorable. However, always set your Take Profit (TP) and Stop Loss (SL) levels to safeguard your account and mitigate risk. As market conditions evolve, disciplined risk management will be your best ally.