Dear Traders,
Please find our updated analysis of the 4H Chart (5th February):
Key Observations:
Orange Circles: Highlight previously achieved targets, showcasing the precision and effectiveness of our analysis.
Previous Chart Review:
TP1 (2788): Successfully hit.
TP2 (2815): Successfully hit.
TP3 (2841): Successfully hit.
Market Overview:
* TP1 (2850) Successfully Achieved
* GOLD is trading at an ATH of 2851, oscillating between the weighted level with a gap above 2850 and a gap below the 2823 Entry Level.
* EMA5 and FVG are offering strong support in this range.
* Price action will test these levels side-by-side until a decisive break and lock above/below the weighted levels confirm the next directional move.
Resistance Levels:
2850, 2876, 2903
Key Support: 2776
Support Levels (GOLDTURN Levels):
2828 (Critical Weighted Level)
2803 (Critical Weighted Level)
2776 (Major Support Level)
2747 (Lower Major Demand Zone)
EMA5 (Red Line):
* Currently below TP1 (2850), indicating sustained bullish momentum.
* EMA5’s behavior will be pivotal in determining the next price action trajectory.
Recommendations
* Focus on EMA5 Behavior:
Bearish Case:
* If EMA5 holds below TP1 (2850) and resistance levels remain intact, bearish momentum may drive prices to retest GOLDTURN weighted levels.
* Scenario 1: If EMA5 crosses and locks below Entry 2823, expect further bearish movement toward GOLDTURN 2803.
* Scenario 2: If EMA5 crosses and locks below GOLDTURN 2803, anticipate another decline toward the major support at GOLDTURN 2776.
Bullish Case:
Scenario 1: If EMA5 crosses and locks above TP1 (2850), the next bullish target is 2876.
Scenario 2: If EMA5 crosses and locks above TP2 (2876), the subsequent bullish target will be 2903.
Scenario 3: A crossover and lock above TP3 (2903) will set the stage for the next target at 2925.
Short-Term:
Utilize 1H and 4H timeframes to capture pullbacks at GOLDTURN levels.
Target 30–40 pips per trade, focusing on shorter positions in this range-bound market.
Each Level allows 30 -40 pips bounce, buy at dip level for proper risk management
Long-Term Outlook:
* Maintain a bullish bias, viewing pullbacks as buying opportunities.
* Buying dips from key levels ensures better risk management, avoiding the pitfalls of chasing tops.
Final Thoughts:
Trade with confidence and discipline. Our detailed and accurate analysis equips you to navigate market movements effectively. Stay tuned for daily updates and multi-timeframe insights to stay ahead in the game.
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Best regards,
📉💰 The Quantum Trading Mastery