XAUUSD GOLD Technical Analysis and Trade Idea

XAUUSD (Gold) Technical Analysis and Trade Idea

Technical Outlook:

- Gold has exhibited recent bullish momentum.
- On the daily (1D) timeframe, price action demonstrates a pullback approaching a key resistance zone.
- Further upside appears likely early in the week, with potential for Gold to advance into nested distribution levels across the 4-hour (4H) and daily (1D) timeframes.

Trade Suggestion:

- Monitor for continued bullish movement early in the week.
- Anticipate a potential price rotation later in the week, presenting a possible sell opportunity.
- Targets: Observe price behavior within the distribution levels for specific entry and exit points.
- Stop-Loss: Employ strategic stop-loss placement above the 1D bearish order block to mitigate risk.

Important Disclaimer:

This analysis reflects my individual market assessment for informational purposes. It does not constitute explicit financial advice. Independent research and comprehensive risk management are crucial before executing any trades.