Gold at Key Support DXY Weakness Signals Potential Buy
The price of XAU/USD is currently ranging between the Monthly Open and Monday's Low.
A significant price movement is expected once it breaks out of this range, similar to previous instances shown in the chart. When the price was previously range-bound, buyers were swept out as their stop losses were hit. After a deviation highlighted in red, the price regained strength above Monday's Low, which acted as support/resistance, leading to a strong move towards the Previous Month's High.
Currently, the market is in a range, and the DXY (US Dollar Index) is showing short-term weakness. If the price deviates and holds the Monthly Open as support, that will be a signal to buy, with a target at the Previous Week's High.
However, if the Dollar turns bullish and XAU/USD drops below the Monthly Open, we will revert to range-bound trading. In this case, we would play within the range until the price breaks below Monday's Low, which could lead to a significant move towards the Previous Month's Low.
For now, Gold is holding support, and we will continue to treat it as a support unless proven otherwise. Happy trading!
A significant price movement is expected once it breaks out of this range, similar to previous instances shown in the chart. When the price was previously range-bound, buyers were swept out as their stop losses were hit. After a deviation highlighted in red, the price regained strength above Monday's Low, which acted as support/resistance, leading to a strong move towards the Previous Month's High.
Currently, the market is in a range, and the DXY (US Dollar Index) is showing short-term weakness. If the price deviates and holds the Monthly Open as support, that will be a signal to buy, with a target at the Previous Week's High.
However, if the Dollar turns bullish and XAU/USD drops below the Monthly Open, we will revert to range-bound trading. In this case, we would play within the range until the price breaks below Monday's Low, which could lead to a significant move towards the Previous Month's Low.
For now, Gold is holding support, and we will continue to treat it as a support unless proven otherwise. Happy trading!
交易進行
The trade is progressing as planned. As long as the Monthly Open remains as support, the price will continue its trend toward the Previous Week High, as there is inefficiency that needs to be addressed. I will keep you updated further on how to trade Monday range.交易結束：目標達成
Congrats who took the trade, Trade is almost at TP. I've shared other trade ideas for Gold do check and follow.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。