XAU/USD (Gold) Price Analysis Key Levels:
Trend Lines: Descending trend lines indicate bearish pressure. Price needs to break above these for a bullish reversal.
Support Zone: A strong demand zone is highlighted below, where buyers may step in. A break below could lead to further downside.
Resistance Level: Recent highs act as resistance, with potential selling pressure near this level.
Trading Plan:
Buy: Look for bullish reversal patterns within the support zone. Target resistance or a breakout above trend lines.
Sell: If the price breaks below the support zone, enter a short position targeting the next support.
Risk Management:
Apply proper stop-loss and maintain a 1:2 or better risk-reward ratio. Focus on disciplined execution.
Support Zone: A strong demand zone is highlighted below, where buyers may step in. A break below could lead to further downside.
Resistance Level: Recent highs act as resistance, with potential selling pressure near this level.
Trading Plan:
Buy: Look for bullish reversal patterns within the support zone. Target resistance or a breakout above trend lines.
Sell: If the price breaks below the support zone, enter a short position targeting the next support.
Risk Management:
Apply proper stop-loss and maintain a 1:2 or better risk-reward ratio. Focus on disciplined execution.
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