GOLD → The search for 2550 is projected

ที่อัปเดต:
We had a week that remained above 2500 with several corrections based on a Fibonacci H4 seeking zones that did not exceed 50% with the price remaining above and seeking 161 which is exactly at 2550, everything indicates that it could be between today and next week which comes as the players held the price above 2500.

Observing the H1 chart of XAUUSD (gold) I noticed some important points that could influence the price movement today:

Volume and Movement Analysis:

Strong Resistance At 2531-2550, the resistance level is well defined, with a resistance zone that has been tested a few times without breaking. This indicates that there are a significant number of sell orders at this level, which could make it difficult for the price to advance in the short term.

Increasing Volume of Endurance Tests:

Volume has consistently increased at resistance tests near 2531. This increase in volume without a breakout could indicate an exhaustion of buyers, which could lead to a correction or consolidation before a further advance.

Support Zone between 2500-2477:

The support zone between 2500 and 2477 is well marked, with intermediate support at 2483.893. This support has already been tested a few times, indicating that it is a level where buyers are defending the price.

Expectations for Today:

Probability of Resistance Breakdown in 2550 Today: Low:

Considering the volume and significant resistance at 2531-2550, the price is unlikely to reach 2550 later today unless there is a very strong catalyst such as surprise economic news that impacts the dollar or demand for gold.

Probable Scenario:

Most likely, the price will retest resistance at 2531. If buying volume does not increase significantly, we could see a consolidation or slight correction to the aforementioned supports, before a more solid breakout attempt that could occur next week.

Point of Attention:

Keep an eye on the price behavior as it approaches 2531 again. If there is an abrupt increase in volume and breakout, the scenario could quickly change to an attempt to reach 2550, but this is still uncertain for today.

Conclusion:

Today, the most likely move would be an attempted breakout of resistance at 2531, followed by a possible pullback to the support zone if there is no immediate success. The 2550 mark is more likely to be tested next week depending on how the market reacts in the coming sessions and upcoming economic data.

I believe that a good starting point is Buy Stop from 2525.88 and work with capital protection at 2531, which will make it clear whether we will seek 2550 or whether we will exit on the short TP.

And what do you think?
การซื้อขายยังคงดำเนินอยู่
The first step has been taken, as reported today we are looking for a slight correction, with the breakout of the triangle seeking the third touch of the LTA before next week's high, selling with a target of 2500 done successfully.
Technical IndicatorsTrend AnalysisWave AnalysisXAUUSD

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