Trade Idea: XAUUSD LONG (BUY LIMIT)

Technical Analysis
1. 1H Chart (Higher Timeframe Trend)
• Downtrend Reversal: Price was in a strong downtrend but is now bouncing off a key support near 2827-2830.
• MACD: Histogram is reducing bearish momentum, suggesting a possible trend reversal.
• RSI (14): Rising from oversold conditions (~54.89), indicating bullish momentum building up.
2. 15-Min Chart (Intraday Confirmation)
• Reversal Pattern: A sharp recovery from lows around 2849, forming higher lows.
• MACD: Bullish crossover with histogram turning positive, confirming bullish momentum.
• RSI (12): Nearing overbought levels (~68.23), but still has room for continuation.
3. 3-Min Chart (Entry Timing)
• Pullback to Support: Price is consolidating after a strong breakout above 2862.
• MACD: Still showing bullish structure but a minor pullback is visible.
• RSI (10): Neutral at 50.89, meaning price is neither overbought nor oversold, ideal for a continuation entry.

Fundamental Analysis
• Gold Demand: Potentially rising due to economic uncertainty, with investors looking for safe-haven assets.
• USD Weakness: If upcoming economic data (e.g., inflation, job reports) indicate a slowing U.S. economy, gold could gain strength.
• Market Sentiment: If risk-off sentiment continues, gold could push higher.

Trade Execution

Position: Long XAU/USD
• Entry: 2865 (After minor pullback confirmation)
• Stop Loss: 2855 (Below recent pullback low)
• Take Profit: 2890 (Near previous resistance level)
• Risk-Reward Ratio (RRR): 2.5:1

Rationale
• The uptrend reversal is forming on the 1H and 15M charts.
• Momentum indicators (MACD & RSI) support a bullish move.
• Strong demand and potential USD weakness could fuel further upside.
XAUUSD