Gold CFD: Key Buy & Sell Signals

AlexGoldHunter XAUUSD Technical Analysis and Strategy for CFDs on Gold (US$ / OZ)
Technical Analysis:
Price Levels and Key Zones:

Current Price: 2,650.78 USD

Resistance Levels:

2,680.00 USD

2,670.00 USD

2,660.00 USD

2,650.00 USD

Support Levels:

2,646.29 USD

2,645.70 USD

2,637.01 USD

Fair Value Gaps (FVG):

Multiple FVGs are marked on the chart, indicating areas where the price moved rapidly, leaving gaps in the order book that might be filled later.

Volume Profile:

The volume profile shows high trading activity around 2,650.00 USD, suggesting it could act as a strong support or resistance level.

Break of Structure (BOS) and Change of Character (CHoCH):

Several BOS and CHoCH points indicate significant changes in market structure, suggesting potential trend reversals or continuations.

Relative Strength Index (RSI):

The RSI is currently at 59.35, suggesting a neutral market. The RSI levels of 40.61 and 59.35 can be used to identify potential buy or sell signals.

Moving Average Convergence Divergence (MACD):

The MACD line is at 2.15, the signal line is at -1.55, and the histogram is at -3.70. A crossover of the MACD line and the signal line indicates potential buy or sell signals.

Buy Strategy:
Entry Point:

Consider buying when the price breaks above a significant resistance level, such as 2,650.78 USD, with strong volume.

Confirmation:

Look for a bullish crossover on the MACD (MACD line crossing above the signal line).

Ensure the RSI moves above 60.

Stop Loss:

Place a stop loss below the recent swing low or a significant support level, such as 2,637.01 USD.

Take Profit:

Set a take profit target at the next significant resistance level, such as 2,670.00 USD or 2,680.00 USD.

Sell Strategy:
Entry Point:

Consider selling when the price breaks below a significant support level, such as 2,645.70 USD, with strong volume.

Confirmation:

Look for a bearish crossover on the MACD (MACD line crossing below the signal line).

Ensure the RSI moves below 40.

Stop Loss:

Place a stop loss above the recent swing high or a significant resistance level, such as 2,650.78 USD.

Take Profit:

Set a take profit target at the next significant support level, such as 2,630.00 USD or lower.

Summary of Signals:
Buy Signal:

Entry: Above 2,650.78 USD

Take Profit (TP): 2,670.00 USD, 2,680.00 USD

Stop Loss (SL): Below 2,637.01 USD

Sell Signal:

Entry: Below 2,645.70 USD

Take Profit (TP): 2,630.00 USD or lower

Stop Loss (SL): Above 2,650.78 USD

This analysis provides a structured approach to trading CFDs on Gold using technical indicators and key price levels. If you have any further questions or need additional analysis, feel free to ask! 😊