Gold's Next Target 2800
Instrument: [XAUUSD]
Time Frame: 3H
Observations:
1. GOLD is moving in a traingle chart pattern that momentum started from 18 October.
2. Support and Resistance Zone also observed that has changed the direction of trend many times.
3. Price reversed to Bearish in last days upon hitting the resistance zone 2785_2790. As the market will open it will change it's direction again after Touching Support Zone at 2725_2730
4. Current price action shows respect for the Resistance zone that is lying at 2800 means soon we will see bullish trend.
Trading Strategy:
Gold Buy at 2725_2735
Take Profit1= 2750
Take Profit2= 2780
Take Profit3= 2800
Stop Loss= 2715
Time Frame: 3H
Observations:
1. GOLD is moving in a traingle chart pattern that momentum started from 18 October.
2. Support and Resistance Zone also observed that has changed the direction of trend many times.
3. Price reversed to Bearish in last days upon hitting the resistance zone 2785_2790. As the market will open it will change it's direction again after Touching Support Zone at 2725_2730
4. Current price action shows respect for the Resistance zone that is lying at 2800 means soon we will see bullish trend.
Trading Strategy:
Gold Buy at 2725_2735
Take Profit1= 2750
Take Profit2= 2780
Take Profit3= 2800
Stop Loss= 2715
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