Prediction GOLD/ XAUUSD Today Late June 2021

@fadly Prediction Gold sport Today 30/06/2021

GOLD/ XAUUSD has an interesting setup for our day trading. Where since a few days ago, this commodity appears to be in a quite interesting pattern.

Check out XAUUSD in the following Daily chart:

Judging from the chart above, it appears that the price of the XAUUSD / GOLD commodity is still weak around the previous Higher Low level (Black Circle) which illustrates the market outlook is still away from this safe haven, so this time, the trend seems to still require an increase in interest (or a shift). outlook) to avoid False Signal. Lets see.

For today's entry review, let's look at XAUUSD in the following 1 hour chart:

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Based on the picture above,

I have determined the following intraday Support and Resistance price levels :

Resistance2 (R2) : 1811.59

Resistance1 (R1): 1794.79

Support1 (S1): 1763.17

Support2 (S2): 1746.81

In the chart image above, it appears that GOLD is still moving within the daily range after only small transactions entered, so the price needs to get out of this daily range to be able to give more capable trend signals.

Today, focus on the analysis of the price reaction to the surrounding charted levels to aid the confirmation process while keeping an eye on the latest sentiment around the US dollar and risk appetite. Stay objective!

The Volume Type indicator will help to read the magnitude of interest in the price for opportunities for direction formation.

The R1 level and the S1 level will also measure how much traders are interested in this XAUUSD commodity, a breakout at one of these levels will be an indication of a good price direction.

Beware of a consolidation pattern or false breakout between the R1 level and the S1 level today.

Don't assume (Just Trade What You See, Not What you Think).
Lets see.

Well, in my view/prediction, based on the price movements we analyzed above, today we will try to see opportunities for available entries . However, technicals do not allow assumptions to play, so the best entry that can be made is, we will continue to see the CLOSE PRICE movement on the 1 hour candle.

My setup for Breakout opportunity GOLD
Buy : If the price of the 1 Hour close candle penetrates the R1 level, then get ready to find the best BUY Entry position, you can also let your position reach the R2 level (the strongest Resistance level today) to see the market reaction to that level to go back up or not.

Sell : If the price of the 1 Hour close candle penetrates the S1 level, then get ready to look for the best SELL Entry position, you can also let your position reach the S2 level (the strongest Support level today) to see the market reaction to that level to go back down or not.

My setup for Pullback opportunity GOLD
Sell : If the price of the 1 Hour close candle does not penetrate the R1 level (such as forming a bear pin bar), then be prepared to look for the best SELL Entry position, but if the price reaches and breaks this level, you are ready to cut loss. Can be applied at level R2 as well.

Buy : If the price of the 1 Hour close candle does not penetrate the S1 level (such as forming a bull pin bar), then prepare to find the best BUY Entry position, but if the price reaches and breaks this level, then prepare to cut loss. Can be applied at S2 level as well.

Always use a Risk Reward of at least 1:1 or 1:2 and a trailing stop loss (manual or automatic) when necessary. You can use support and resistance levels for your analysis reference to determine Stop Loss and perform Cut Loss, stay alert for price consolidation.

Continue to use good money management in every entry for the continuation of healthy trading, hopefully this article can be your reference in analyzing the market.

that's what I can convey to all of my friends tonight. Hopefully it will be useful for all of you.

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