#XAUUSD Medium-term GOLD trends, new peaks, opportunities, risks
Gold analysis 19/08-23/08/2024:
Last week, gold broke through the previous peak at 2484 and closed the candle at 2508. The likelihood of gold creating a new peak around 251x is very high. After forming the peak, gold will likely experience a significant correction. The price has a high chance of returning to the 242x area, which serves as a momentum-building phase to continue the uptrend.
The main trading direction for this week will be BUY.
Key price areas to watch: 2510 - 2520, 2477 - 2481, 2498 - 2505, 2424 - 2435.
Recommended orders:
Plan 1: SELL XAUUSD zone 2515 - 2518
SL 2521
TP 2507 - 2500 - 2490 - 2480.
Plan 2: BUY XAUUSD zone 2477-2480
SL 2474
TP 2485 - 2495 - 2505.
Plan 3: BUY XAUUSD zone 2424 - 2427
SL 2421
TP 2432 - 2450 - 2480 - 2567.
Last week, gold broke through the previous peak at 2484 and closed the candle at 2508. The likelihood of gold creating a new peak around 251x is very high. After forming the peak, gold will likely experience a significant correction. The price has a high chance of returning to the 242x area, which serves as a momentum-building phase to continue the uptrend.
The main trading direction for this week will be BUY.
Key price areas to watch: 2510 - 2520, 2477 - 2481, 2498 - 2505, 2424 - 2435.
Recommended orders:
Plan 1: SELL XAUUSD zone 2515 - 2518
SL 2521
TP 2507 - 2500 - 2490 - 2480.
Plan 2: BUY XAUUSD zone 2477-2480
SL 2474
TP 2485 - 2495 - 2505.
Plan 3: BUY XAUUSD zone 2424 - 2427
SL 2421
TP 2432 - 2450 - 2480 - 2567.
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