This chart highlights the current market structure for XAU/USD. Key zones of interest have been marked:
Supply Zone (Red Area): Between $2,647 and $2,651, indicating potential resistance where sellers may enter. Demand Zone (Lower Purple Area): Around $2,618 to $2,622, signaling potential support where buyers may step in.
The price is currently trading at $2,631 and is approaching the marked supply zone. Traders may watch for potential bearish reactions at this level or a possible breakout for continuation.
Key Observations:
Trend Overview: The market recently recovered from a sharp drop, pushing towards the supply zone. Potential Scenarios: A bearish reversal from the supply zone, targeting lower support areas. A breakout above $2,651 could indicate bullish momentum.
Analysis: For short-term traders, consider price action signals such as rejection wicks or engulfing candles near the supply zone. Risk management is key in volatile environments.
Actionable Ideas:
Sell Setup: Look for bearish confirmation near $2,647–$2,651 with stops above $2,653. Buy Setup: Watch for a retracement to the demand zone with confirmation of bullish intent.
Let us know your thoughts or share your analysis in the comments below!
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.