Frenzy_Trader

Hello traders!Exciting developments in the XAU/USD chart! We've witnessed a decisive breach of the downtrend corridor, which signals not only the end of the previous bearish trend but also hints at the inception of a new bullish phase.Entry Zone:Our preferred buy-in range is between 1945 and 1968. This zone is predicated on the recent breakout point and the expected consolidation before the next bullish leg.Take Profit Targets:TP1: 2000The first take profit target stands at the psychologically significant 2000 mark. This level has often acted as a magnet for price and a zone where traders might book some profits.TP2: 2014 Our second objective lies at 2014, based on prior resistances and potential supply zones.TP3: 2045The most ambitious target, 2045, can be expected if the bullish momentum continues and sweeps through the previous levels.Stop Loss: 1934To safeguard our position, we've designated 1934 as the stop loss. This level is comfortably below our entry zone and past the breakout point, ensuring protection against any false breakouts or sudden bearish reversals.In summation, the XAU/USD chart displays a promising setup for bulls. However, as we always emphasize, ensure to utilize sound risk management strategies and never invest more than you can afford to lose. Wishing you successful trades!TP 1 reached!

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: 1870The 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: 1827To 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!TP 1 reachedTP 2 reachedTP 3 reached

Position: ShortEntry Range: 1907.71 - 1906.00Take Profit (TP): 1896.96Stop Loss (SL): 1908.40Analysis:Given the recent price action and technical indicators on the 1-hour timeframe, a potential shorting opportunity for XAU/USD has been identified. The pair seems to be exhibiting signs of a minor pullback, providing a short trading opportunity.Adding that the macro trend for gold remains bearish in the longer term, it's additional signal for SHORT. The chosen entry range has been selected based on recent resistance and potential trend reversal points.Always keep an eye on broader market news and potential geopolitical events that can influence gold prices.Ensure proper risk management and never risk more than a predetermined percentage of your portfolio on any single trade.Happy Trading!TP reached

As the markets experience shifts and trends, it's important for traders to be vigilant and seize opportunities for profit. In the context of XAU/USD (Gold vs. US Dollar), we're eyeing a potential short position that could yield returns during the current downward movement. Analysis: The recent trend in XAU/USD has been characterized by a gradual decline, driven by factors such as strengthening dollar and changing market sentiment. Technical indicators suggest a bearish bias, with resistance levels being tested and the MACD indicating potential further downward momentum. Strategy: Consider positioning a short trade at an optimal entry point around 1950 - 1938, Target TP 1 - 1916 - as the initial target. Target TP 2 - 1888 Caveats: While the analysis supports a short position, keep in mind that market movements are subject to unpredictability. Always conduct thorough research, monitor economic events, and stay informed about geopolitical factors that could influence price action. Remember, trading involves risk, and it's essential to exercise prudent risk management. Consult with your financial advisor and make informed decisions based on your risk tolerance and trading strategy. Trade wisely, stay informed, and embrace the opportunities that the markets present!TP 1 reached!TP 2 reached!