XAUUSD point of view
تم تحديثه
My Analysis of the Gold (XAUUSD) Chart on the Daily Timeframe
The gold chart has formed a double top pattern with a middle bottom, representing a neckline that serves as a strong support line. If this support is broken, there is a bearish target at the price level of 2206 or halfway down. If the price continues to fall, there is another target at 2181, provided there is a clear break below the retracement zone ending at 2200.
In the case of a rebound from the neckline, we are looking at nearby targets due to a harmonic pattern formed on the hourly timeframe, with the first target at 2361. If there is a clear breakthrough of the initial retracement zone, which ends at 2395, there is a high probability of reaching the third target at 2434.
A potential rebound from the double top trendline is possible; however, if this trendline is breached with a closing price above it, we are likely heading towards a new peak.
The retracement zones have been identified using a special strategy based on Fibonacci analysis.
Disclaimer: This analysis is my personal interpretation of the gold chart and all scenarios might not happen as predicted. This is not financial advice, and it should not be taken as such. Trading involves risks, and it is essential to conduct your own research and consult with a financial advisor before making any trading decisions.
The gold chart has formed a double top pattern with a middle bottom, representing a neckline that serves as a strong support line. If this support is broken, there is a bearish target at the price level of 2206 or halfway down. If the price continues to fall, there is another target at 2181, provided there is a clear break below the retracement zone ending at 2200.
In the case of a rebound from the neckline, we are looking at nearby targets due to a harmonic pattern formed on the hourly timeframe, with the first target at 2361. If there is a clear breakthrough of the initial retracement zone, which ends at 2395, there is a high probability of reaching the third target at 2434.
A potential rebound from the double top trendline is possible; however, if this trendline is breached with a closing price above it, we are likely heading towards a new peak.
The retracement zones have been identified using a special strategy based on Fibonacci analysis.
Disclaimer: This analysis is my personal interpretation of the gold chart and all scenarios might not happen as predicted. This is not financial advice, and it should not be taken as such. Trading involves risks, and it is essential to conduct your own research and consult with a financial advisor before making any trading decisions.
ملاحظة
1st long target reached
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