Gold CFDs: Expert Strategies

XAUUSD AlexGoldHunter Technical Chart Analysis: CFDs on Gold (US/OZ) 1-Hour Timeframe
Current Market Structure
Current Price: $2,687.330

Key Fibonacci Levels:

0.786: $2,710.71975

0.705: $2,707.044375

0.618: $2,703.09675

0.5: $2,697.7425

0.382: $2,692.38825

Swing High: $2,690.00

Swing Low: $2,674.50

p1D High: $2,720.00

p1D Low: $2,666.50

Indicators and Volume
RSI: 43.47 (neutral to slightly oversold)

MACD: Bullish momentum with histogram at 0.567 and signal line at -4.915

Volume Profile: Significant trading activity around $2,700, indicating potential support/resistance zones

Buy Strategy
Confirmation:

Look for RSI to drop below 30 (oversold condition) and start to rise.

Ensure MACD histogram shows increasing bullish momentum.

Look for a bullish candlestick pattern (e.g., hammer, bullish engulfing) near the 0.5 Fibonacci level ($2,697.7425).

Entry: Enter a buy position around the 0.5 Fibonacci level ($2,697.7425).

Stop Loss: Place a stop loss below the recent swing low ($2,674.50).

Take Profit: Aim for a 1:3 risk-reward ratio. If the stop loss is $20 below the entry, the take profit should be $60 above the entry.

Sell Strategy
Confirmation:

Look for RSI to exceed 70 (overbought condition) and start to fall.

Ensure MACD histogram shows increasing bearish momentum.

Look for a bearish candlestick pattern (e.g., shooting star, bearish engulfing) near the 0.786 Fibonacci level ($2,710.71975).

Entry: Enter a sell position around the 0.786 Fibonacci level ($2,710.71975).

Stop Loss: Place a stop loss above the recent swing high ($2,690.00).

Take Profit: Aim for a 1:3 risk-reward ratio. If the stop loss is $20 above the entry, the take profit should be $60 below the entry.

Buy Signal
ENTRY: $2,697.7425 TP: $2,717.7425 (1:3 risk-reward) SL: $2,677.7425

This should provide you with a structured approach to trading CFDs on Gold (US/OZ) based on the current chart setup and technical indicators. If you have more questions or need further adjustments, feel free to let me know!