$XAU Good evening, everyone.
The reason for the rise is related to Brent crude oil falling by around 3%.
First scenario – LONG (preferred)
Wait for a pullback
Price reaches 4037–4040.
Entry confirmation
A bearish rejection with a long lower wick appears, followed by a recovery above 4042 on the 5-minute chart; ideally, buying volume increases.
Open LONG
Stop at 4026, with targets at 4060, then 4075, then 4085.
Trade management
At TP1, you can close 30%, then move the stop on the remainder to breakeven after accounting for fees and slippage.
Second scenario – SHORT (backup)
If gold breaks below 4029 on a 15-minute close, then fails to recover the level on a retest:
Entry: 4027–4030.
Stop: 4042.
TP1: 4010.
TP2: 3995.
I don’t prefer this scenario unless buyer weakness is confirmed and the dollar’s decline stops or reverses.
#الذهب #XAU #gold
The reason for the rise is related to Brent crude oil falling by around 3%.
First scenario – LONG (preferred)
Wait for a pullback
Price reaches 4037–4040.
Entry confirmation
A bearish rejection with a long lower wick appears, followed by a recovery above 4042 on the 5-minute chart; ideally, buying volume increases.
Open LONG
Stop at 4026, with targets at 4060, then 4075, then 4085.
Trade management
At TP1, you can close 30%, then move the stop on the remainder to breakeven after accounting for fees and slippage.
Second scenario – SHORT (backup)
If gold breaks below 4029 on a 15-minute close, then fails to recover the level on a retest:
Entry: 4027–4030.
Stop: 4042.
TP1: 4010.
TP2: 3995.
I don’t prefer this scenario unless buyer weakness is confirmed and the dollar’s decline stops or reverses.
#الذهب #XAU #gold