This updated XAU/USD chart provides a refined trading plan:
1. Support Level (White Horizontal Line): The price is expected to decline to the support level before reversing upward.
2. Stop Loss (Yellow Line): Place a stop loss below 2,680.0 to protect against further downside.
3. Target (Resistance Zone): The price could move toward the target at 2,740.3 after bouncing off the support level.
Suggested Plan:
Entry: Buy near the support level after confirmation of a reversal (e.g., bullish candle).
Stop Loss: Set below 2,680.0 to limit risk.
Take Profit: Target the resistance zone at 2,740.3.
2. Stop Loss (Yellow Line): Place a stop loss below 2,680.0 to protect against further downside.
3. Target (Resistance Zone): The price could move toward the target at 2,740.3 after bouncing off the support level.
Suggested Plan:
Entry: Buy near the support level after confirmation of a reversal (e.g., bullish candle).
Stop Loss: Set below 2,680.0 to limit risk.
Take Profit: Target the resistance zone at 2,740.3.
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