Short-term bearish correction, within a potential bullish setup

3 Haz

Here is a more detailed explanation of the chart analysis for XAU/USD (Gold Spot vs. U.S. Dollar) on the 30-minute timeframe:

📊 Chart Summary:
Instrument: XAU/USD (Gold Spot vs. U.S. Dollar)
Timeframe: 30-minute
Current Price: Around 3,359.945 USD
Trend: Short-term bearish correction, within a potential bullish setup
📌 Key Technical Levels:

1. Support Zone 🟩

Level: 3,342.605 USD
This is the zone where buyers are likely to step in. It's a previous demand area where price may reverse or consolidate before moving higher.

2. Resistance Level 🟥

Level: 3,391.323 USD
A key level to watch. If price breaks above this, it signals bullish strength and continuation.
3. Demand Zone 🟦
Level: 3,409.880 – 3,410.342 USD
Target area where strong buying activity previously occurred. Price may gravitate toward this if bullish momentum builds.
🔄 Price Projection Path (Expected Movement):

Price may test the support at 3,342.605, forming a potential reversal base.
A bullish move is expected toward the resistance at 3,391.323.
If broken, price could continue its upward trajectory toward the demand zone around 3,410.342.
🧠 Trading Implication:

Bullish Setup: Look for confirmation near the support zone for a long entry.
Breakout Traders: Watch for breakout above resistance for continuation trades.
Risk Management: Use tight stops below support; consider scaling out near resistance.
Let me know if you'd like a trading strategy or signals based on this analysis.

3 Haz

İşlem aktif

Hold on buyers running 40 pips

4 Haz

İşlem elle kapatılmış

I told you short term bearish then buy