Technical Analysis of the Chart: Gold Spot/USD (XAU/USD)

13 ธ.ค. 2024

The provided chart shows a 1-hour timeframe of Gold Spot/USD (XAU/USD). Here's a detailed breakdown of the technical analysis with bullish and bearish scenarios, as well as potential entry and exit points:

1. Key Levels Identified
Resistance Levels (Red Lines):

$2,725.84 (Major resistance zone)
$2,703.95 (Immediate resistance)
Support Levels (Green Zones):

$2,680.08 (Immediate support)
$2,661.07 (Critical support zone)
$2,624.09 (Major support zone)
Volume Clusters:

Large buy/sell volumes visible around $2,703.95 and $2,688.01, suggesting strong participation in these areas.
Delta Volume:

Highlighted delta volume of 169.12% at $2,688.01, indicating heavy bearish selling pressure at this level.
2. Indicators Observed
Trend Indicators:

Price is interacting with a downward sloping EMA/MA, indicating short-term bearish momentum.
The green zone below suggests a strong support base around $2,661.07.
Volume and Order Flow:

Selling pressure has increased recently, visible with a large red cluster around $2,703.95.
Buy volumes near $2,680.08 could indicate a potential accumulation zone.
Price Action:

A lower high formation after touching $2,703.95, signaling bearish sentiment.
However, bullish wicks near the $2,680.08 zone suggest buyers are defending this level.
3. Bullish Scenario
Potential for Upside Movement
Triggers for Upside:

A break and sustained close above the immediate resistance at $2,703.95 could signal bullish momentum.
Continuation beyond $2,725.84 would confirm a broader bullish breakout.
Entry Point:

Aggressive Entry: Above $2,703.95 with confirmation via a bullish candle close.
Conservative Entry: After a retest of $2,703.95 and a bounce higher.
Target Levels:

First Target: $2,715 - $2,725 (key resistance zone).
Second Target: $2,740, a psychological resistance level.
Stop Loss:

Below the $2,680.08 support to protect against fakeouts.
4. Bearish Scenario
Potential for Downside Movement
Triggers for Downside:

Failure to hold $2,680.08 support will open the door for further declines.
A breakdown below $2,661.07 would signal increased bearish momentum.
Entry Point:

Aggressive Entry: Below $2,680.08 after a bearish candle close.
Conservative Entry: On a retest of $2,680.08 as resistance after the breakdown.
Target Levels:

First Target: $2,661.07 (next support level).
Second Target: $2,624.09, a major support zone.
Stop Loss:

Above the $2,688.01 zone to avoid invalidation from quick reversals.
5. Probable Scenarios
Bullish Continuation:

If price holds above $2,680.08, accumulation may occur, pushing price toward $2,703.95 or higher.
Bearish Continuation:

If price breaks below $2,680.08, selling could intensify, targeting $2,661.07 and $2,624.09.
6. Trading Plan:
For Bulls:
Look for signs of strength around $2,680.08, such as bullish engulfing candles or higher lows.
Focus on entering above $2,703.95 for a continuation to $2,725 and beyond.
For Bears:
Watch for rejection candles at $2,703.95 or a breakdown below $2,680.08.
Target the $2,661.07 level and trail profits if selling accelerates.
7. Conclusion
The $2,680.08 level acts as the battleground between bulls and bears.
Traders should wait for confirmation before entering, keeping stop losses tight to manage risk.