Here's the analysis based on the 4-hour time frame GOLD
Analysis: 1. **Resistance Zone:** - The price has approached a clear resistance zone (around 2660–2670) where sellers may step in. This zone has been tested before, making it significant.
2. **Bearish Price Action:** - The recent candlesticks near resistance suggest hesitation, possibly indicating seller strength. - If a bearish engulfing or similar rejection pattern forms, it may confirm a potential reversal.
3. **Moving Averages:** - The moving averages (possibly EMA or SMA) show alignment below the current price, indicating a recent bullish move. However, a pullback to the moving averages is typical in such cases.
4. **Volume:** - (Not visible on the chart) If volume is decreasing near the resistance zone, it strengthens the bearish bias.
Suggested Sell Targets: 1. **First Target (T1):** 2645 - Minor support zone and close to the first EMA. 2. **Second Target (T2):** 2621 - A previous support level and aligns with the middle of the range. 3. **Third Target (T3):** 2608 - Strong support zone; price could bounce from here.
Stop Loss: - Place your stop loss slightly above the resistance zone, around **2675**, to avoid being stopped out by false breakouts.
Recommendation: - Wait for confirmation via bearish candlestick patterns (like engulfing or pin bars) before entering. - Watch the volume and any fundamental news that could impact gold.
Trade aktif
Congratulations! The first target has been achieved.
Next Steps:
- **Adjust Stop Loss:** Move your stop loss to breakeven or slightly in profit (around 2650) to secure gains.
- **Focus on Target 2 (2621):** Watch price action as it approaches this level. If momentum remains bearish, hold for the next target.
what to Monitor:
- Price Behavior Near 2621:**
- If you see signs of rejection (e.g., long wicks or bullish patterns), consider taking partial profits.
- If the bearish momentum is strong, you can hold for the final target (2608).
Trading ditutup: target tercapai
Awesome! 🎉 Hitting the second target at 2621 is a solid win! You're crushing it.
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