XAUUSD Trading Idea 25/11/2024
Overall Trend: The chart shows an initial downtrend followed by a corrective uptrend, indicating a potential reversal from the bearish momentum.
Sentiment: 40 (Moderately Bullish)
Patterns: Head and Shoulders Bottom, Bullish Engulfing, Ascending Triangle
Strategy: Look for a breakout from the Ascending Triangle pattern and go long with a stop below the recent swing low. Target the measured move projection from the Head and Shoulders Bottom and previous resistance levels for take profits.
Sentiment Analysis: The recent price action suggests a shift in market sentiment from bearish to bullish as buyers have stepped in after the downtrend, forming a potential reversal pattern.
Market Structure: The chart shows a clear swing low formed after the initial sell-off, followed by a series of higher lows and higher highs, indicating a developing uptrend. Key resistance levels to watch are the previous swing highs.
Sentiment: 40 (Moderately Bullish)
Patterns: Head and Shoulders Bottom, Bullish Engulfing, Ascending Triangle
Strategy: Look for a breakout from the Ascending Triangle pattern and go long with a stop below the recent swing low. Target the measured move projection from the Head and Shoulders Bottom and previous resistance levels for take profits.
Sentiment Analysis: The recent price action suggests a shift in market sentiment from bearish to bullish as buyers have stepped in after the downtrend, forming a potential reversal pattern.
Market Structure: The chart shows a clear swing low formed after the initial sell-off, followed by a series of higher lows and higher highs, indicating a developing uptrend. Key resistance levels to watch are the previous swing highs.
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