Trading Signal: Buy (Long) on Gold (XAUUSD)
Timeframe: 1 Hour (1H)
Entry:
• Current price: $3,343.08
• Price has broken above a previous resistance zone (highlighted in red), which could now act as support.
Trade Plan:
• Buy around the current level after confirmation of support above the broken resistance.
Targets (TP):
• TP1: $3,355.81
• TP2: $3,367.00 (approx)
• TP3: $3,396.75
Stop Loss (SL):
• $3,307.30 (below the resistance-turned-support and recent swing low)
Trade Logic:
• Breakout and retest setup: Price has cleanly broken resistance and is consolidating above it.
• Strong bullish momentum, supported by rising volume and higher highs.
• Risk-reward ratio appears favorable based on SL and TP zones.
Risk Management:
• Risk only 1–2% of capital on this trade.
• Adjust SL/TP based on price action confirmation after entry.
NOTES:
TRADE AT YOUR OWN RISK