GOLD
Chart Analysis:
1. Head and Shoulders Pattern:
The chart displays an inverted head and shoulders pattern, which is typically a bullish
Reversal pattern. This pattern is characterized by:
Left Shoulder: Formed at a low point.
Head: A lower point than the shoulders.
Right Shoulder: A similar low point to the left shoulder but higher than the head.
The breakout from the neckline (blue horizontal line) suggests a potential upward move.
2. Key Levels:
Support Levels:
Around $2,296.20 (marked as "2nd ENTRY").
Around $2,334.00.
Resistance Levels:
Around $2,361.39.
Around $2,378.40.
3. Fair Value Gaps (FVG):
The chart highlights multiple Fair Value Gaps (FVG-4h), which indicate potential areas of liquidity. Price may move to fill these gaps.
4. BOB (Breakout Box):
The chart shows a breakout box around $2,361.39, indicating a significant breakout point. This level is crucial as it coincides with a resistance level.
5. Price Action:
The price is currently around $2,345.60, showing bullish momentum.
The green highlighted area indicates a potential target zone for long positions.
Strategy:
1. Entry Points:
An aggressive entry could be near the current price level around $2,345.60, given the breakout from the inverted head and shoulders pattern.
A more conservative entry could be around $2,334.00, closer to the neckline of the inverted head and shoulders pattern.
2. Targets:
First target around $2,361.39 (resistance level).
Second target around $2,378.40 (higher resistance level).
3. Stop-Loss:
Consider placing a stop-loss below the right shoulder, around $2,334.00.
Alternatively, for a more conservative approach, place the stop-loss below $2,296.20.
Risk Management:
Ensure proper risk-reward ratio (e.g., 1:2 or 1:3).
Monitor price action near resistance levels for potential reversals or continuation patterns.
1. Head and Shoulders Pattern:
The chart displays an inverted head and shoulders pattern, which is typically a bullish
Reversal pattern. This pattern is characterized by:
Left Shoulder: Formed at a low point.
Head: A lower point than the shoulders.
Right Shoulder: A similar low point to the left shoulder but higher than the head.
The breakout from the neckline (blue horizontal line) suggests a potential upward move.
2. Key Levels:
Support Levels:
Around $2,296.20 (marked as "2nd ENTRY").
Around $2,334.00.
Resistance Levels:
Around $2,361.39.
Around $2,378.40.
3. Fair Value Gaps (FVG):
The chart highlights multiple Fair Value Gaps (FVG-4h), which indicate potential areas of liquidity. Price may move to fill these gaps.
4. BOB (Breakout Box):
The chart shows a breakout box around $2,361.39, indicating a significant breakout point. This level is crucial as it coincides with a resistance level.
5. Price Action:
The price is currently around $2,345.60, showing bullish momentum.
The green highlighted area indicates a potential target zone for long positions.
Strategy:
1. Entry Points:
An aggressive entry could be near the current price level around $2,345.60, given the breakout from the inverted head and shoulders pattern.
A more conservative entry could be around $2,334.00, closer to the neckline of the inverted head and shoulders pattern.
2. Targets:
First target around $2,361.39 (resistance level).
Second target around $2,378.40 (higher resistance level).
3. Stop-Loss:
Consider placing a stop-loss below the right shoulder, around $2,334.00.
Alternatively, for a more conservative approach, place the stop-loss below $2,296.20.
Risk Management:
Ensure proper risk-reward ratio (e.g., 1:2 or 1:3).
Monitor price action near resistance levels for potential reversals or continuation patterns.
Catatan
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.