Gold (XAU/USD) - Potential Bullish Reversa
hello guys.
Price Action Overview:
The chart shows a significant correction followed by a consolidation phase, with price touching key levels of support and resistance.
Weak QM (Quasimodo) pattern identified near the top, which indicates potential weakness in the downtrend.
QML (Quasimodo Line) at a lower level has held as a strong support zone, and price has rebounded from this level.
Key Support and Resistance Levels:
Support: The price reacted strongly from the lower diagonal trendline (QML region) and horizontal support zone, signaling buyer strength.
Resistance: A key target for the bullish move is set around 2,679, indicated by the purple dashed line.
Market Structure:
Price is in a corrective pattern after failing to break lower support zones, showing a potential bullish reversal.
"Hunted the pattern" signifies a fake-out below key support, trapping sellers before reversing upward.
Risk and Reward Setup:
Stop-Loss placed below the recent lows (just above 2,028), protecting against downside risk.
Take-Profit target is around 2,679, aiming for a substantial upside.
Price Action Overview:
The chart shows a significant correction followed by a consolidation phase, with price touching key levels of support and resistance.
Weak QM (Quasimodo) pattern identified near the top, which indicates potential weakness in the downtrend.
QML (Quasimodo Line) at a lower level has held as a strong support zone, and price has rebounded from this level.
Key Support and Resistance Levels:
Support: The price reacted strongly from the lower diagonal trendline (QML region) and horizontal support zone, signaling buyer strength.
Resistance: A key target for the bullish move is set around 2,679, indicated by the purple dashed line.
Market Structure:
Price is in a corrective pattern after failing to break lower support zones, showing a potential bullish reversal.
"Hunted the pattern" signifies a fake-out below key support, trapping sellers before reversing upward.
Risk and Reward Setup:
Stop-Loss placed below the recent lows (just above 2,028), protecting against downside risk.
Take-Profit target is around 2,679, aiming for a substantial upside.
Transaction en cours
👉 my broker:: bit.ly/HYMCMELI
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
👉 my broker:: bit.ly/HYMCMELI
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.