Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

11 February

Gold XAUUSD

• * Gold clearly remains in a longer term bull trend so I will continue to buy dips & breaks above resistance or previous highs.
• * We beat minor resistance at 2888/2892.
• * The break above 2893 was a buy signal for this week targeting 2899/2901, then 2906/08.
• * These targets were hit for a potential profit of up to 130-150 ticks, with a high for the day at 2911.
• * Over night Gold has shot higher again to 2942.
• * We could struggle at 2942/46. I am not suggesting a short in such a strong bull trend but a pull back from here could offer a buying opportunity at 2926/22.
  longs need stops below 2917.
• * Further losses meet a buying opportunity at 2910/07 & longs need stops below 2902.

• * A break above 2946 is a buy signal targeting 2953/55 & 2964/68 for profit taking.
  

Silver  XAGUSD

1. 1. Silver made a low for the day exactly at support at 3180/60 & longs worked perfectly as we shot higher to 2333.
2. 2. Support at 3180/60 again today & longs need stops below 3150.
3. 3. A break below 3150 sees 3160/80 act as resistance – try a short if we bounce to retest this level – stop above 3190.
   Target is: 3120.
   .
4. 4. A buying opportunity at 3120/10 & longs need stops below 3095.
   Targets:  3140, 3165

5. A break above 3235 can retest last week’s high at 3256/64. A break above 3270 can target 3295/3405 for profit taking on longs.

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Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.

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20250211