Gold Reversal Alert: Key Fibonacci & Volume Profile Insights on
Expert Analysis of Gold Spot (XAU/USD) on a 4-hour Timeframe
1. Break of Structure (BOS) and Change of Character (CHoCH):
BOS and CHoCH are marked on the chart to highlight significant shifts in market structure.
BOS (Break of Structure): Indicates a strong trend continuation when the price breaks previous support or resistance levels.
CHoCH (Change of Character): Suggests a potential reversal or significant change in trend direction.
2. Fibonacci Retracement Levels:
Key Fibonacci levels are used to identify potential support and resistance areas:
0.382 (2659.5042)
0.5 (2640.4)
0.618 (2621.2958)
0.705 (2607.2105)
0.786 (2594.0966)
The 0.5 and 0.618 levels are particularly noteworthy as they often act as strong support or resistance zones.
3. Volume Profile:
The Volume Profile on the right side of the chart shows the traded volume at different price levels.
Higher volume areas indicate strong support or resistance zones.
The highest volume node around the 2,742.71 level suggests a significant resistance area.
4. Price Action:
The chart indicates a significant downtrend followed by a potential reversal.
Price has broken several support levels (BOS) and is now testing the Fibonacci retracement levels.
The recent CHoCH suggests a potential shift in market sentiment, indicating that the downtrend might be losing momentum and a reversal could be in play.
5. Key Levels:
Resistance: 2,742.71 (high volume node)
Support: Fibonacci levels at 0.5 (2640.4) and 0.618 (2621.2958)
Conclusion
The chart suggests a potential reversal in the downtrend of Gold Spot prices, with significant support and resistance levels identified through Fibonacci retracement and volume profile analysis. BOS and CHoCH annotations provide insights into the market structure and potential future price movements. Keep an eye on the key Fibonacci levels and the high volume node for potential trading opportunities.
If you have any further questions or need additional analysis, feel free to ask! Happy trading! 🚀✨
1. Break of Structure (BOS) and Change of Character (CHoCH):
BOS and CHoCH are marked on the chart to highlight significant shifts in market structure.
BOS (Break of Structure): Indicates a strong trend continuation when the price breaks previous support or resistance levels.
CHoCH (Change of Character): Suggests a potential reversal or significant change in trend direction.
2. Fibonacci Retracement Levels:
Key Fibonacci levels are used to identify potential support and resistance areas:
0.382 (2659.5042)
0.5 (2640.4)
0.618 (2621.2958)
0.705 (2607.2105)
0.786 (2594.0966)
The 0.5 and 0.618 levels are particularly noteworthy as they often act as strong support or resistance zones.
3. Volume Profile:
The Volume Profile on the right side of the chart shows the traded volume at different price levels.
Higher volume areas indicate strong support or resistance zones.
The highest volume node around the 2,742.71 level suggests a significant resistance area.
4. Price Action:
The chart indicates a significant downtrend followed by a potential reversal.
Price has broken several support levels (BOS) and is now testing the Fibonacci retracement levels.
The recent CHoCH suggests a potential shift in market sentiment, indicating that the downtrend might be losing momentum and a reversal could be in play.
5. Key Levels:
Resistance: 2,742.71 (high volume node)
Support: Fibonacci levels at 0.5 (2640.4) and 0.618 (2621.2958)
Conclusion
The chart suggests a potential reversal in the downtrend of Gold Spot prices, with significant support and resistance levels identified through Fibonacci retracement and volume profile analysis. BOS and CHoCH annotations provide insights into the market structure and potential future price movements. Keep an eye on the key Fibonacci levels and the high volume node for potential trading opportunities.
If you have any further questions or need additional analysis, feel free to ask! Happy trading! 🚀✨
Alex Gold Hunter
Free Signals & analysis
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bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Alex Gold Hunter
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
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