Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

13 May

Gold XAUUSD

• * Gold immediately broke support at the 500 HMA, short term 38.2% Fibonacci & 1 month ascending trend line at 3300/3295 to hit the next downside target of 3245/40.
• * I posted a video about a buying opportunity at 3210/3200 in the free telegram group & this proved to be an excellent trade.
• * Gold made a low for the day around 3208 & shot higher to 3245.
• * We can try a long again today at 3210/3200, stop below 3190.
• * Targets again are 3234 & 3245 for profit taking.
• * Minor resistance at 3260/63 could see a high for the day morning if reached.
• * If you try a short look for the 3245/40 are for a quick scalp.
• * Buy a break above 3269 as we can target 380/85 for profit taking.
• * A sell opportunity at 3293/98 but shorts need stops above 3308.
• * Targets: 3275, 3265.

• * A break below 3190 is a sell signal targeting 3165/60 for profit taking on shorts.

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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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Jason Sen, Director

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20250513