Gold's Bullish Surge: Key Levels to Watch For Higher Time Frame

19 Ağu 2024

🌟 **#XAUUSD H4 Higher Time Frame Setup** 🌟

🏅 **Current Trend:** Gold remains fully bullish, driven by hopes of an interest rate cut and escalating geopolitical tensions between Iran and Israel, as well as the ongoing conflict between Russia and Ukraine.

📊 **Previous Analysis Recap:** Last Friday, we suggested a buy after the price broke above **2470**, with a target of **2511** based on Fibonacci extension levels. True to our analysis, the price touched **2511**, yielding an impressive **400+ pips**! 🤑

🔮 **What's Next for Gold?**

1️⃣ **Key Level 1:** **2482-2475** – This zone previously acted as strong resistance, pushing gold lower. We now anticipate it will serve as solid support for gold. Keep an eye on this area for potential bullish momentum. 📈

2️⃣ **Key Level 2:** **2458-2450** – This is a high-probability buying zone, aligning with the #H4 order block and the 0.38% Fibonacci retracement. If the price retraces to this area, it could offer an excellent buying opportunity for swing traders. 🎯

3️⃣ **Key Level 3:** **2512-2515** – This Fibonacci extension zone is crucial. If a bullish #H4 candle manages to close above this area, the next target is the **2544-2550** Fibonacci extension zone, offering further upside potential. 🚀

✨ **Stay Alert and Trade Smart!** ✨

22 Ağu 2024

İşlem kapandı: hedefe ulaştı

"📈 Reached a high of 2531! 🎯 Hope you all took the chance to book partial profits of more than 200 pips or at least hit breakeven. Apologies for the delay in updates—I've been in travelling with low connectivity. Stay tuned! 🚀"