Gold's ATH is still above
The analysis that we did last week is still working here. So, we will go with the same strategy on Monday
Instrument: [XAUUSD]
Time Frame: D1 Chart
Observations:
1. Identified strong Resistance and Support zones within a parallel channel flow.
2. Trend has consistently respected Resistance Zone 3 and Support Zone 4 times with instances of reversal.
4. Price reversed to Bullish last week upon hitting the support zone 2600_2605
5. Current price action shows respect for the Resistance zone that is lying in the zone 2642_2648.
6. As we are observing EMAS also indicates up trend but for short period of time
Trading Strategy:
Sell enter zone: 2742 - 2748
SL: 2755
TP: 2708 - 2702
Instrument: [XAUUSD]
Time Frame: D1 Chart
Observations:
1. Identified strong Resistance and Support zones within a parallel channel flow.
2. Trend has consistently respected Resistance Zone 3 and Support Zone 4 times with instances of reversal.
4. Price reversed to Bullish last week upon hitting the support zone 2600_2605
5. Current price action shows respect for the Resistance zone that is lying in the zone 2642_2648.
6. As we are observing EMAS also indicates up trend but for short period of time
Trading Strategy:
Sell enter zone: 2742 - 2748
SL: 2755
TP: 2708 - 2702
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