XAUUSD Good day! Late-night Russian attacks on Ukraine’s energy fields pushed gold to break to the upside. Expect a trending move towards 2680/2700. Look to buy in the 55-60 zone with SL below 2650.
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Gold Buy Limit: 2640.7 Stop Loss: 2630 Take Profit 1: 2643 Take Profit 2: 2646 Take Profit 3: 2650
The market operates on fair principles, and with proper analysis, achieving profitability is possible. However, a lack of knowledge can result in losses. While luck might occasionally play a role, sustainable success relies on thorough analysis. If you have any questions, I’m here to help!
Intraday Buy Trade Entry: 2610 Stop Loss: Below the recent swing low at 2536 Take Profit 1: Around the Pivot level at 2640.4 Take Profit 2: Near the SELL/Resistance1 level at 2652.3
Intraday Sell Trade Entry: 2652 Stop Loss: Above the recent swing high at 2750 Take Profit 1: Around the Pivot level at 2640.4 Take Profit 2: Near the BUY/Support1 level at 2628.5
Technical Remarks The market has recently established a new swing low at 2538 (14Nov24), indicating a potential continuation of the downtrend. The previous swing low at 2604 (10Oct24) remains a critical support level. The current DCMP at 2633 is positioned between significant resistance and support levels, making it a key area to monitor for potential breakout or breakdown.