📈MJTrading:
Gold is currently testing support at the main ascending trend line on the 4-hour chart. Price action suggests a potential bounce, but the setup remains probabilistic—ideal for traders who operate on higher time frames and manage risk with discipline.
🔹 Trade Setup
Entry: 3340
Stop Loss: 3309
Take Profit 1: 3368
Take Profit 2: 3400
🔍 Technical Context
Price is respecting the long-standing trend line, hinting at bullish continuation.
Risk-reward ratio is favorable, especially for swing traders.
A break below the trend line invalidates the setup—hence the tight SL.
⚠️ Note: While the trend supports upside potential, failure to hold the trend line could trigger deeper retracement. Trade the probabilities, not the certainties.
In case it's not shown properly on your monitor because of different resolutions:
Psychology Always Maters:
#MJTrading #Gold #XAUUSD #Trend #Trendline #Forex #Chart #ChartAnalysis #Buy #Long
Gold is currently testing support at the main ascending trend line on the 4-hour chart. Price action suggests a potential bounce, but the setup remains probabilistic—ideal for traders who operate on higher time frames and manage risk with discipline.
🔹 Trade Setup
Entry: 3340
Stop Loss: 3309
Take Profit 1: 3368
Take Profit 2: 3400
🔍 Technical Context
Price is respecting the long-standing trend line, hinting at bullish continuation.
Risk-reward ratio is favorable, especially for swing traders.
A break below the trend line invalidates the setup—hence the tight SL.
⚠️ Note: While the trend supports upside potential, failure to hold the trend line could trigger deeper retracement. Trade the probabilities, not the certainties.
In case it's not shown properly on your monitor because of different resolutions:
Psychology Always Maters:
#MJTrading #Gold #XAUUSD #Trend #Trendline #Forex #Chart #ChartAnalysis #Buy #Long
Note
A correction in lower time frames is likely...
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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.
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.