GOLD Technical Analysis – January 29, 2025

From a technical perspective, I see that Gold has reached a price level that is still worth considering for potential entry points.

Let’s first examine the 1-hour timeframe Gold chart before analyzing further:

Price Action Analysis (Trader Pressure)

Based on market trends, Gold remains in a bullish/uptrend. However, we must anticipate a possible trend reversal if the price breaks through the support area or enters a consolidation phase.

Looking at the candle history, we can identify potential buy opportunities. However, to remain objective, I will provide an analysis for both buy and sell entries.

From the chart, we can observe that buyer pressure (long green candles) is gradually pushing the price higher, with minimal resistance from seller pressure (red candles), forming a higher low pattern. This indicates that buyers still dominate certain price levels. However, selling opportunities can still be found within the Gold market.

Key Levels for Entry Consideration

• Resistance Area: 2780.14 – 2772.62
• Support Area: 2754.27 – 2747.28

Entry Setup Options

1. Breakout Opportunity Setup

• Buy Entry: If a 1-hour candle closes above the upper Resistance Area (2780.14), look for the best buy entry.
• Sell Entry: If a 1-hour candle closes below the lower Support Area (2747.28), prepare for a sell entry.
• Stop Loss:
  • For buy entries: If the 1-hour candle closes below 2772.62, cut losses.
  • For sell entries: If the 1-hour candle closes above 2754.27, stop loss should be applied.
  • Use a minimum risk-reward ratio of 1:1.

2. Pullback Setup for Sell Entry

• Utilize the resistance area as the pullback zone.
• If a 1-hour candle closes within the pullback area, a sell entry can be placed.
• Stop Loss: If the 1-hour candle closes above 2780.14, cut losses.
• Use a minimum risk-reward ratio of 1:1, adjusting to your trading style.

3. Pullback Setup for Buy Entry

• Utilize the support area as the pullback zone.
• If a 1-hour candle closes within the pullback area, a buy entry can be placed.
• Stop Loss: If the 1-hour candle closes below 2747.28, cut losses.
• Use a minimum risk-reward ratio of 1:1, adjusting to your trading style.

Always apply proper money management in every trade to ensure sustainable trading practices. Additionally, be cautious of fake breakout candles that may lead to false signals.

I hope this analysis serves as a useful reference for your market evaluation.

Happy Trading, everyone!

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