Gold declined from last ETH! Time to falls

٢٦ يناير

Hey Traders & Investors! Hope you're shining bright today!

XAUUSD H1 Chart Analysis (January 25, 2023)
The gold price has reached our target of $2,777, triggering a fresh selling opportunity for bearish traders. This move is supported by negative momentum indicators on the H1 chart.

Key Levels to Watch:

- Resistance: $2,790
- Previous Target: $2,777 (HIT)
- New Target: $2,750
- Support: $2,720

Trading Strategy:
A sustained move below $2,767 could pave the way for additional losses. However, a reversal above $2,790 could trigger a buy-off.

Update:

Our previous target of $2,777 has been hit, confirming the strength of the bullish trend. However, we saw a fake breakout around $2,784. Now, let's focus on our next target around $2,750.

Educational Takeaway:
This analysis highlights the importance of identifying key supply and demand zones and monitoring momentum indicators to gauge the strength of a trend on shorter timeframes. By combining these technical analysis tools, traders can make more informed decisions and develop effective trading strategies.

Hope my work helps you guys! Please like, comment, and share your thoughts!

Best wishes,
Tom

٢٧ يناير

أغلقت الصفقة: تم الوصول للهدف

wohooo good trade here