$XAU : Long Setup
Gold broke above the 4,000 psychological level in a sharp rally and is now overbought at RSI 74. I'm not chasing the spike and waiting for a pullback into the 4,000 zone.
Entry: 3,985 โ 3,998
Stop-loss: 3,968
- TP1: 4,029
- TP2: 4,057
- TP3: 4,072
Reason: Breakout above 3,978 and 4,000, higher lows since 3,904, and the old resistance zone should now act as support. A 1H close above 4,030 opens 4,057+. A 1H close below 3,968 invalidates the setup.
๐ฐ News: Gold surged past $4,000 as US midterm election results heightened political uncertainty and weighed heavily on the US dollar, while softer yields countered Fed hike bets. Resistance sits near the 100-period average at about 4,057. Expect sharp moves around political and Fed headlines, so keep size small.
โ ๏ธ Small size, low leverage.
Personal view, not financial advice. DYOR.
#XAU #GOLD #Binance #FutureTarding
Gold broke above the 4,000 psychological level in a sharp rally and is now overbought at RSI 74. I'm not chasing the spike and waiting for a pullback into the 4,000 zone.
Entry: 3,985 โ 3,998
Stop-loss: 3,968
- TP1: 4,029
- TP2: 4,057
- TP3: 4,072
Reason: Breakout above 3,978 and 4,000, higher lows since 3,904, and the old resistance zone should now act as support. A 1H close above 4,030 opens 4,057+. A 1H close below 3,968 invalidates the setup.
๐ฐ News: Gold surged past $4,000 as US midterm election results heightened political uncertainty and weighed heavily on the US dollar, while softer yields countered Fed hike bets. Resistance sits near the 100-period average at about 4,057. Expect sharp moves around political and Fed headlines, so keep size small.
โ ๏ธ Small size, low leverage.
Personal view, not financial advice. DYOR.
#XAU #GOLD #Binance #FutureTarding
