GOLD ANALYSIS 23.02.2024
Trading Plan:
1) AO and Fibonacci Analysis :
- The Awesome Oscillator (AO) indicates the potential formation of a lower high (LH), which could signal divergence, suggesting a potential price decline.
- Using Fibonacci retracement to identify levels where the price of gold may experience temporary increases.
- Levels 1.236 and 1.618 may be relevant, especially as they intersect with the trendline plotted, adding confirmation to the resistance levels.
2) Trading Plan:
- Planning to initiate a sell position at the level of 2042.50, aligning with Fibonacci analysis and technical resistance.
- Setting a stop loss (SL) at the level of 2047.50 to limit losses if the price moves against the prediction.
- Setting a target profit (TP) at the level of 2023.00 as a potential reversal point expected.
3) Risk Management:
- It is essential to implement proper risk management, including the use of stop loss orders.
- Taking into account fundamental factors and market sentiment before making trading decisions.
1) AO and Fibonacci Analysis :
- The Awesome Oscillator (AO) indicates the potential formation of a lower high (LH), which could signal divergence, suggesting a potential price decline.
- Using Fibonacci retracement to identify levels where the price of gold may experience temporary increases.
- Levels 1.236 and 1.618 may be relevant, especially as they intersect with the trendline plotted, adding confirmation to the resistance levels.
2) Trading Plan:
- Planning to initiate a sell position at the level of 2042.50, aligning with Fibonacci analysis and technical resistance.
- Setting a stop loss (SL) at the level of 2047.50 to limit losses if the price moves against the prediction.
- Setting a target profit (TP) at the level of 2023.00 as a potential reversal point expected.
3) Risk Management:
- It is essential to implement proper risk management, including the use of stop loss orders.
- Taking into account fundamental factors and market sentiment before making trading decisions.
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.
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.