XAU/USD Long Opportunity: Pushing Off From Lower Corridor Border
Greetings traders!
We're currently observing a compelling setup in the XAU/USD pair. The price action is oscillating within a well-defined corridor. Recently, there's been a notable rebound off the corridor's lower boundary, indicating bullish momentum.
Entry Zone:
Our optimal buy-in range is situated between 1846 and 1854.
This zone is derived from recent price behavior and supports that have demonstrated resilience.
Take Profit Targets:
TP1: 1870
The initial take profit target is set at 1870. This aligns with some minor resistances and potential profit-taking zones.
TP2: 1884
Our second target is 1884, corresponding with more robust resistances and historical price action.
TP3: 1894
The final ambitious target is at 1894, which could be reached if bullish momentum sustains and manages to break past earlier resistances.
Stop Loss: 1827
To manage risk effectively, we're placing our stop loss at 1827. This level is strategically positioned below recent lows and provides a buffer against adverse price swings.
In conclusion, the current setup on XAU/USD presents a compelling long opportunity, but as always, exercise caution and employ proper risk management. Good trading, everyone!
We're currently observing a compelling setup in the XAU/USD pair. The price action is oscillating within a well-defined corridor. Recently, there's been a notable rebound off the corridor's lower boundary, indicating bullish momentum.
Entry Zone:
Our optimal buy-in range is situated between 1846 and 1854.
This zone is derived from recent price behavior and supports that have demonstrated resilience.
Take Profit Targets:
TP1: 1870
The initial take profit target is set at 1870. This aligns with some minor resistances and potential profit-taking zones.
TP2: 1884
Our second target is 1884, corresponding with more robust resistances and historical price action.
TP3: 1894
The final ambitious target is at 1894, which could be reached if bullish momentum sustains and manages to break past earlier resistances.
Stop Loss: 1827
To manage risk effectively, we're placing our stop loss at 1827. This level is strategically positioned below recent lows and provides a buffer against adverse price swings.
In conclusion, the current setup on XAU/USD presents a compelling long opportunity, but as always, exercise caution and employ proper risk management. Good trading, everyone!
Trade active:
TP 1 reached
Trade active:
TP 2 reached
Trade closed: target reached:
TP 3 reached