Gold- 4 HOURS chart technical analysis if price manage to ful the 2535 area.
AB=CD Pattern Context:
The AB=CD pattern projects that the price will rise in a predictable harmonic manner, and the D point represents a potential reversal zone.
The final point D is projected near $2,635, which aligns closely with your take-profit targets, particularly TP1 at $2,616.
Trade Plan Overview:
Entry Price: $2,534.57
Stop Loss: $2,547.19
Take Profit Targets:
TP1: $2,616 — the first major resistance zone, where the reversal might occur.
TP2: $2,600 — close to a psychological level where price may face selling pressure.
TP3: $2,592 — another key level, potentially marking the upper end of a short-term reversal.
TP4: $2,576 — this aligns with Fibonacci retracement levels, often acting as a stronger support zone.
TP5: $2,548 — this is close to your stop-loss level, serving as a final exit point in case the price reverses early.
Pattern Confirmation:
Completion at Point D: Once the price reaches point D around $2,635, a reversal is expected based on the AB=CD pattern. The confluence of Fibonacci levels and the harmonic pattern provides a strong argument for a potential bearish move from this level.
Risk-to-Reward: Given your tight stop loss and wide take profit range, the risk-to-reward ratio remains favorable, especially at the $2,616 level and above.
Summary of Analysis:
The AB=CD pattern suggests that gold may continue its upward movement towards $2,635, where you expect to start taking profits from $2,616 and below.
This pattern aligns well with your provided levels, and the trade setup offers an excellent risk-to-reward ratio, particularly at higher take-profit levels.
AB=CD Pattern Context:
The AB=CD pattern projects that the price will rise in a predictable harmonic manner, and the D point represents a potential reversal zone.
The final point D is projected near $2,635, which aligns closely with your take-profit targets, particularly TP1 at $2,616.
Trade Plan Overview:
Entry Price: $2,534.57
Stop Loss: $2,547.19
Take Profit Targets:
TP1: $2,616 — the first major resistance zone, where the reversal might occur.
TP2: $2,600 — close to a psychological level where price may face selling pressure.
TP3: $2,592 — another key level, potentially marking the upper end of a short-term reversal.
TP4: $2,576 — this aligns with Fibonacci retracement levels, often acting as a stronger support zone.
TP5: $2,548 — this is close to your stop-loss level, serving as a final exit point in case the price reverses early.
Pattern Confirmation:
Completion at Point D: Once the price reaches point D around $2,635, a reversal is expected based on the AB=CD pattern. The confluence of Fibonacci levels and the harmonic pattern provides a strong argument for a potential bearish move from this level.
Risk-to-Reward: Given your tight stop loss and wide take profit range, the risk-to-reward ratio remains favorable, especially at the $2,616 level and above.
Summary of Analysis:
The AB=CD pattern suggests that gold may continue its upward movement towards $2,635, where you expect to start taking profits from $2,616 and below.
This pattern aligns well with your provided levels, and the trade setup offers an excellent risk-to-reward ratio, particularly at higher take-profit levels.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.