GOLD

26 thg 6

Chart Overview
Timeframe: 4 hours
Price Levels: The key price levels are marked on the right side of the chart, including support and resistance levels.
Trends: The chart shows two prominent trends:
A falling trend (marked with red trend lines).
An upper trend (marked with a yellow trend line).

Falling Trend:

The red trend lines indicate a downward price movement. This trend has been in place for some time, indicating bearish sentiment in the market.
Support and Resistance:

Support (OB): There is a support zone marked as "OB" (Order Block) at the lower end of the chart, around 2,291.00 USD. This is where the price is currently hovering.
Resistance: Several resistance levels are marked, with notable ones at 2,316.00 USD, 2,335.00 USD, 2,354.00 USD, and 2,376.00 USD.

Price Action:

The price recently touched the lower support zone and has started to move upward.
There's a potential reversal or breakout indicated by the interaction with the yellow upper trend line.

Fair Value Gap (FVG):

There is a Fair Value Gap (FVG) indicated on the chart. This area may act as a zone where the price could face resistance or consolidation before deciding on a further direction.
Potential Scenarios
Bullish Scenario:

If the price breaks above the yellow upper trend line and sustains above the 2,354.00 USD resistance level, it could signal a bullish reversal.
The next target could be the 2,376.00 USD level.
Bearish Scenario:

If the price fails to break the upper trend line and falls below the current support level (2,286.00 USD), it could continue the bearish trend.
A significant drop could be expected if it breaks the support zone.

Trade Setup

Entry: A possible long position could be considered if the price breaks above the yellow trend line and holds above 2,316.00 USD.
Stop-Loss: The stop-loss could be set just below the recent low at 2,286.00 USD.

Target: Initial target could be set at 2,354.00 USD, followed by 2,376.00 USD if the bullish momentum continues.

3 thg 7

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