Gold analysis

The image is a trading chart for the U.S. Dollar Index (DXY) on a 15-minute timeframe from TradingView. Here are the key details regarding the buy setup in the image:

1. Support Zone & Entry Area:

The price is near a support level around 108.414.

A horizontal support zone is marked, where price has bounced before.



2. Trendline Support:

An ascending trendline support is visible, aligning with the entry zone.



3. Buy Setup:

A long position (buy trade) is marked.

The entry point is around 108.414.

The trade targets an upside move into the 109.800 - 109.881 zone.

The stop-loss appears below 108.400, ensuring risk management.



4. Risk-Reward Ratio:

The green area represents the profit target.

The red area represents the risk zone.

The trade appears to have a favorable risk-to-reward ratio.




Analysis:

This setup indicates a bullish outlook, anticipating a bounce from the support level and trendline. If the price holds above the support zone, it could move towards the 109.800 - 109.881 target.

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