XAUUSD Gold What's Next Movement

XAU/USD (Gold) with a resistance level at 2665 and a support zone at 2615. Here's a possible way to approach this:

Confirming the Resistance at 2665:

Price Action: If the price reaches 2665 and shows signs of reversal, such as candlestick patterns could indicate that the resistance is holding, and a short or take-profit position could be appropriate.

Volume Analysis: Check if there's a significant drop in volume near 2665, which could signal weakening upward momentum and strengthen your case for a reversal.

Identifying the Support Zone at 2615: Taking Profit for the Long-term And make Trade Scalping Fallowing to the Chart Pattern

Risk Management:

Always ensure that you're adhering to a proper risk management strategy, such as setting stop-loss orders to limit potential losses if the price moves against you.

Adjust your position size according to your risk aiming to risk a small percentage of your trading capital on each trade. By analysing these key levels (2665 as resistance and 2615 as support) along with price action, volume, and technical indicators, you can devise a strategy that suits your risk tolerance and market outlook.

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