Hey everyone, Ken here!
I'm keeping a close eye on XAUUSD, and right now, gold is approaching a very important support zone that I’ve shared before. This level is not only reinforced by strong buying pressure but also aligns with the trendline, making the potential for a bounce here very high.
If price confirms support here through strong price action, such as long lower wicks or a bullish engulfing candle, I believe gold will reverse and target 3,724, a reasonable goal given the current market structure.
However, if price breaks and holds below this support zone, the bullish trend will be invalidated, and we could see a sharp decline.
This is my personal opinion, not financial advice. Always assess your setups and ensure proper risk management when trading!
Good luck with your trades!
I'm keeping a close eye on XAUUSD, and right now, gold is approaching a very important support zone that I’ve shared before. This level is not only reinforced by strong buying pressure but also aligns with the trendline, making the potential for a bounce here very high.
If price confirms support here through strong price action, such as long lower wicks or a bullish engulfing candle, I believe gold will reverse and target 3,724, a reasonable goal given the current market structure.
However, if price breaks and holds below this support zone, the bullish trend will be invalidated, and we could see a sharp decline.
This is my personal opinion, not financial advice. Always assess your setups and ensure proper risk management when trading!
Good luck with your trades!
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.