"Bullish Trend Continuation: Key Support Zones for Gold Buyers"

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Bullish Market Structure

The prevailing market structure remains bullish, indicating that selling gold at this stage may not be advisable. The price action continues to establish a sequence of higher highs (HH) and higher lows (HL), reinforcing the overall uptrend.

Key Buying Areas

A critical support zone, identified as the Buying Area, aligns with a recent HL, suggesting a potential entry point for buyers. Additionally, a broader Buying Zone exists at a lower level, coinciding with the 200-period moving average (blue line), which may serve as a stronger support should the price retrace further.

Opportunity for Buyers

Given the bullish market conditions, any pullback into these key demand zones presents a buying opportunity, with the expectation of a continuation towards the Target Area at the upper resistance level. The presence of a break of structure (BOS) in the past further validates the strength of the ongoing trend.

Trader Caution and Strategy

Traders should remain cautious of any shifts in momentum while maintaining a bias toward long positions as long as the market structure remains intact.

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8 jam lalu

Dagangan aktif

Trade was active from 2931 , SL 2923, TP1 2955, TP2 2970.

6 jam lalu

Nota

THE GOLD PRICE APPROACHING OUR BUYING AREA 2926-2919, BE PATIENCE FOR VIP ENTRY.

2 jam lalu

Nota

TRADE ACTIVATED FROM 2930 ,