This chart represents a technical analysis of Gold Spot (XAU/USD) on the 30-minute timeframe. Here's a concise breakdown of the key points:
🔹 Structure & Key Levels:
Liquidity Sweep: Price initially swept the liquidity above the recent highs, triggering stop-losses of early sellers or weak buyers.
Support Zone: Marked around the 3410–3415 range, where price has shown rejection and stability.
Prime Zone for Long Position: Below support, around 3400–3405, this area is marked as an ideal entry for long trades based on strong bullish reactions in the past.
🔸 Possible Scenarios:
Bullish Reaction from Support: Price may respect the current support zone and begin an upward move towards the resistance area around 3450.
Deeper Pullback into Prime Zone: If support breaks, price could dip into the prime long entry zone before reversing upwards.
✅ Conclusion:
The chart suggests a buy (long) setup is likely, especially from the support or prime zone, targeting the previous highs near 3450. Risk management would be important if the price breaks below 3390.96 (red zone), which could invalidate the long setup.
🔹 Structure & Key Levels:
Liquidity Sweep: Price initially swept the liquidity above the recent highs, triggering stop-losses of early sellers or weak buyers.
Support Zone: Marked around the 3410–3415 range, where price has shown rejection and stability.
Prime Zone for Long Position: Below support, around 3400–3405, this area is marked as an ideal entry for long trades based on strong bullish reactions in the past.
🔸 Possible Scenarios:
Bullish Reaction from Support: Price may respect the current support zone and begin an upward move towards the resistance area around 3450.
Deeper Pullback into Prime Zone: If support breaks, price could dip into the prime long entry zone before reversing upwards.
✅ Conclusion:
The chart suggests a buy (long) setup is likely, especially from the support or prime zone, targeting the previous highs near 3450. Risk management would be important if the price breaks below 3390.96 (red zone), which could invalidate the long setup.
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Trading isn’t just numbers — it’s a mindset.📊 Stay patient, trust your analysis, and let the market speak.📈 Every candle tells a story, so read it wisely and ride the wave. join now for daily trade setups.
t.me/+jNlT-eN1zIs1YTc0
t.me/+jNlT-eN1zIs1YTc0
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.