Key Levels: 1. **Entry Zone**: - Planned within the **Golden Zone**, between **61.8%** ($2,946) and **78.6%** ($2,910) Fibonacci retracement levels. - This zone is identified as a high-probability area for a reversal based on Fibonacci principles.
2. **Stop Loss (SL)**: - Positioned just below the **78.6% Fibonacci level** at approximately **$2,910** to minimize risk if the price invalidates the setup.
3. **Take Profit (TP)**: - **TP1**: At the **0% Fibonacci retracement level** (~$3,043), corresponding to the nearest resistance level or the top of the previous range. - **TP2** (if applicable): Extended profit level, potentially aligned with Fibonacci extensions (e.g., -27.2% or -61.8% for continuation).
Trade Logic: 1. **Fibonacci Confluence**: - The price has retraced into the golden zone, an area with strong historical significance for reversals.
2. **Trend Bias**: - The current market structure suggests a potential uptrend resumption after the pullback.
3. **Risk-to-Reward Ratio (R:R)**: - This setup offers a favorable R:R, targeting a large profit potential relative to the risk defined by the SL.
4. **Moving Averages**: - The 50 EMA (blue) and 200 EMA (orange) act as dynamic support/resistance. A price above 50 EMA could add confirmation.
Market Considerations: - **Price Reaction**: Monitor price action closely within the golden zone. A bullish engulfing candle or breakout would provide further entry confirmation. - **Volume Analysis**: Increased volume on bullish candles will validate momentum strength. - **News & Fundamentals**: Watch for U.S. Dollar (USD) strength/weakness, Federal Reserve policy updates, or geopolitical risks, as these heavily influence gold prices.
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.