XAUUSD (2H) - Strong Bullish Trend

13 בפבר׳

XAUUSD

📶Technical Analysis:

🟢 Early February, the price tested the resistance zone at 2880.0, forming an all-time high. This level was retested twice before the strong breakout on February 10, pushing the price to a new all-time high around 2940.0.
🟢 After the new high, the market entered a correction phase, testing the support level at 2880.0 again. On February 12, the price revisited this zone, forming a strong bullish candle with a large lower shadow. This candle suggests a morning star pattern, a classic trend reversal signal, with buyers stepping in after the retracement.
🟢 The morning star pattern was followed by another bullish candle, confirming the potential reversal and support holding at 2880.0. This indicates that the market is likely to continue its bullish trend if the support level at 2880.0 holds.
🟠 The next critical level for XAUUSD is 2940.0. If the price fails to break above this resistance, a short-term reversal or sideways movement may occur. Watching for price action and candles around this level will be key for future trades.

🔤 Summary:

🟢 Support: 2880.0 (tested on February 12)
🔴 Resistance: 2940.0 (previous all-time high)
🟡 Given the bullish candle patterns and support holding at 2880.0, the trend appears to be strong, and a continuation higher could be expected. However, caution should be taken at the next level of resistance around 2940.0, where the previous high was formed

13 בפבר׳

עסקה פעילה

With the successful retest of the broken resistance turned support, a calculated risk position can be opened. The risk should be limited to no more than 2% of the capital. The target for the trade would be near the next level of resistance around 2940.0, where the previous all-time high was formed.

Demo:
Position: 2900.80
SL: 1%
TP: 3%

Real:
Position: 2900.90
SL: 3.09%
TP: 9.14%

14 בפבר׳

עסקה סגורה: היעד הושג

The target price (TP) was successfully reached after a continuation of the bullish momentum, with the price climbing and hitting the previous high where the resistance level at 2935.0 was located.

Demo Account:
TP reached with a 3% gain.

Real Account:
TP reached with a 8.86% gain.