Happy Newyear XAUUSD (GOLD)

wczoraj

Gold will continue to trend sideways during the holidays. The expected target if increased will not exceed 2650 and decreased not less than 2600.

Key Zones:
Supply Zone:

Located between 2,629 and 2,634. This is a significant resistance area where selling pressure might occur, leading to a potential price reversal downward.
Demand Zones:

Demand M15: A smaller demand zone on the 15-minute timeframe, located between 2,611 and 2,612. This zone is expected to see a short-term price reaction upwards.
Demand H1: A stronger demand zone on the hourly timeframe, located between 2,604 and 2,608. This acts as a more robust support level if the price declines further.
FVG H1 (Fair Value Gap):

Positioned above the Supply Zone. This indicates an imbalance in liquidity on the H1 timeframe, where the price might revisit to fill the gap.
2. Price Pattern:
Neckline Bottom Pattern:
The price is testing the neckline level (indicated by the horizontal black line). A breakout above the neckline could trigger further upward momentum toward the Supply Zone.
3. Trading Scenarios:
Bearish Scenario:

Entry Point (Sell): Around the Supply Zone (2,629 – 2,634).
Stop Loss: Above the Supply Zone, approximately at 2,635.
Take Profit:
First target: Demand M15 (2,612).
Second target: Deeper level at Demand H1 (2,604).
Bullish Scenario:

Entry Point (Buy): Around Demand M15 (2,612) or Demand H1 (2,604).
Stop Loss: Below the Demand H1 zone, around 2,603.
Take Profit:
First target: The neckline level or around 2,624.
Second target: Supply Zone (2,629 – 2,634).
4. Key Notes:
Ensure confirmation of price reaction at each zone before entering trades (e.g., candlestick patterns, volume spikes, or momentum indicators like RSI or MACD).
Monitor price behavior around the neckline. A strong breakout could invalidate the bearish scenario.