Gold Spot (XAU/USD) -Trading Plan Using Wkly and Dly Open Prices
Analysis:
Weekly Opening Price:
The price action has struggled to hold above the weekly open level (2,660.81), showing signs of weakness after a strong rally. This level now acts as a key resistance for buyers to reclaim.
Daily Opening Price:
The daily open at 2,649.01 is serving as a pivot point for today's session. A sustained move below this level indicates potential bearish continuation.
Trade Plan:
Entry Zone: Positioned near the daily open price rejection.
Stop-Loss: Placed above the key resistance area (blue zone).
Target: Aiming for the key support level at 2,580.00, aligning with previous significant structure.
Key Levels:
Resistance:
Weekly Open: 2,660.81
Next resistance: 2,666.12
Support:
2,622.89 (prior key daily level)
Final Target: 2,580.00
Notes:
If buyers fail to reclaim the weekly open, sellers could dominate with a target toward the 2,580 zone.
A clear break above the weekly open invalidates the setup.
Weekly Opening Price:
The price action has struggled to hold above the weekly open level (2,660.81), showing signs of weakness after a strong rally. This level now acts as a key resistance for buyers to reclaim.
Daily Opening Price:
The daily open at 2,649.01 is serving as a pivot point for today's session. A sustained move below this level indicates potential bearish continuation.
Trade Plan:
Entry Zone: Positioned near the daily open price rejection.
Stop-Loss: Placed above the key resistance area (blue zone).
Target: Aiming for the key support level at 2,580.00, aligning with previous significant structure.
Key Levels:
Resistance:
Weekly Open: 2,660.81
Next resistance: 2,666.12
Support:
2,622.89 (prior key daily level)
Final Target: 2,580.00
Notes:
If buyers fail to reclaim the weekly open, sellers could dominate with a target toward the 2,580 zone.
A clear break above the weekly open invalidates the setup.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.