Technical Analysis of GOLD – February 11, 2025

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

Let’s take a look at the 1-hour timeframe Gold chart below before we proceed with the analysis:

Using Price Action analysis (Trader Pressure), we can observe that GOLD is still in a Bullish/Uptrend condition. However, we must also anticipate a trend reversal if the price breaks through the Support area above or if price consolidation occurs.

By analyzing the candle history, we can look for Buy entry opportunities. However, to maintain objectivity, I will present both Buy and Sell entry analysis.

Looking at the chart above, Buyer pressure (long Green candles) has been gradually pushing the price higher without significant resistance from Seller pressure (long Red candles), forming Higher Lows. This indicates that Buyers are still dominating the formation of certain price levels. However, Sell opportunities can still be found in this Gold commodity.

From the chart, I have identified the Resistance area through the upper price levels (2966.92 – 2952.29), while the Support area can be seen through the lower price levels (2918.98 – 2905.65).

Here are my entry setup options, which you can adjust according to your trading style:

Breakout Opportunity Setup:

• If the 1-hour candle closes above the Upper Resistance Boundary (2966.92), prepare to find the best Buy Entry position.
• If the 1-hour candle closes below the Lower Support Boundary (2905.65), prepare to find the best Sell Entry position.
• Cut Loss if the 1-hour candle closes below the lower boundary of the resistance area (<2952.29) for Buy entry, and above the upper boundary of the Support area (>2918.98) for Sell Stop Loss. Maintain a minimum risk ratio of 1:1.

Pullback Setup for Sell Position:

• The Pullback Area uses the Resistance Zone. If the 1-hour candle closes within the Pullback Area, you can take a Sell position.
• Cut Loss if the 1-hour candle closes above the upper boundary of the Pullback Area (>2966.92).
• Use a minimum risk ratio of 1:1 according to your trading strategy.

Pullback Setup for Buy Position:

• The Pullback Area uses the Support Zone. If the 1-hour candle closes within the Pullback Area, you can take a Buy position.
• Cut Loss if the 1-hour candle closes below the lower boundary of the Pullback Area (<2905.65).
• Use a minimum risk ratio of 1:1 according to your trading strategy.

Always use proper money management in every entry for sustainable and healthy trading, and stay alert to Fake Breakout Candles.

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

Happy Trading, everyone!

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