XAU/USD: Golden Opportunity. Bullish Reversal Play
🚨 GOLD (XAU/USD) TECHNICAL ANALYSIS - 2H CHART
Traders, we’ve got an interesting situation developing on the XAU/USD 2-hour chart. Here’s the lowdown:
✅ Entry: The price is hovering near the 21 EMA at $2,326, which is serving as immediate support. A bullish bounce from this area with a clear candlestick pattern might be a good entry point for a long position.
❌ SL: A prudent stop loss can be placed just below the recent swing low and 21 EMA, around $2,318.5.
🎯 TP 1: The first target would be the minor resistance level at $2,350.
🎯 TP 2: If the bullish momentum is strong, we could aim for the next significant resistance at $2,354.04.
We're relying on the EMA to hold as support. Watch for a solid bullish signal before entering. And as usual, risk management is crucial—never risk more than you’re comfortable with. If that EMA support gives way, be ready to step aside. Let's trade smart and keep our discipline.
Traders, we’ve got an interesting situation developing on the XAU/USD 2-hour chart. Here’s the lowdown:
✅ Entry: The price is hovering near the 21 EMA at $2,326, which is serving as immediate support. A bullish bounce from this area with a clear candlestick pattern might be a good entry point for a long position.
❌ SL: A prudent stop loss can be placed just below the recent swing low and 21 EMA, around $2,318.5.
🎯 TP 1: The first target would be the minor resistance level at $2,350.
🎯 TP 2: If the bullish momentum is strong, we could aim for the next significant resistance at $2,354.04.
We're relying on the EMA to hold as support. Watch for a solid bullish signal before entering. And as usual, risk management is crucial—never risk more than you’re comfortable with. If that EMA support gives way, be ready to step aside. Let's trade smart and keep our discipline.
Sheena Lynne