Hi traders! , Currently analyzing GOLD (XAUUSD) on the 1H timeframe.
Price has dropped aggressively but is now reacting strongly from a key support zone around 3,271.00, where buyers are stepping in. This area has previously shown significant bullish reactions.
I'm now buying from 3,271.00, expecting a bullish correction towards my target.
Take Profit: 3,377.00
Stop Loss: 3,165.00
RSI is in oversold, indicating potential exhaustion of sellers.
Price may have created a fake breakout below the trendline, trapping liquidity before bouncing back.
Currently managing the trade, watching how price develops around this key area.
Disclaimer : This is not financial advice. This is my personal analysis shared for educational purposes only.
Price has dropped aggressively but is now reacting strongly from a key support zone around 3,271.00, where buyers are stepping in. This area has previously shown significant bullish reactions.
I'm now buying from 3,271.00, expecting a bullish correction towards my target.
Take Profit: 3,377.00
Stop Loss: 3,165.00
RSI is in oversold, indicating potential exhaustion of sellers.
Price may have created a fake breakout below the trendline, trapping liquidity before bouncing back.
Currently managing the trade, watching how price develops around this key area.
Disclaimer : This is not financial advice. This is my personal analysis shared for educational purposes only.
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.
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.