XAUUSD- Technical Analysis On One Huour Time Frame

1-Fibonacci 0.5 Level: This level is acting as strong support at around the 2480 level.

2-Sell Setup:

3-Entry: i am considering a sell at around 2501.
Stop Loss: Around 2510.
Target: 2477.
Buy Setup:

4- Entry: Possible buy setup at around 2480.
Stop Loss: 2470.
Target: 2515.
5- Resistance and Support:
The chart shows a clear resistance zone at around 2515.
Support zone is marked around the 2480 level, aligning with the Fibonacci 0.5 retracement level.
The analysis suggests two potential trading opportunities:

A short (sell) position from 2501 targeting 2477.
A long (buy) position from 2480 targeting 2515.
Both trades have tight stop losses to manage risk, making this a strategy that focuses on short-term price movement between defined support and resistance zones.