Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

22 July

Gold XAUUSD

• * Gold remains trapped in a range but we broke above recent weekly highs in the 3365 – 3377 to retest the 4 week high at 3398
• * As we wrote yesterday: A break above 3390 could be an important buy signal but I will wait for the confirmation.
• * The close above 3390 looks positive & as I wrote in my Telegram group yesterday we should have support at 3383/3379 now – longs need stops below 3375.
• * Targets: 3393, 3400, 3405
• * We should meet resistance at 3420/3425 & shorts need stops above 3430
• * Targets: 3405, 3395
• * However a break above 3430 is a buy signal & longs need stops below 3415
• * Targets: 3450, 3460, 3470
• * Eventually a retest of the all time high at 3500 could be expected.

• * Just be aware that a break below 3375 risks a slide to 3368/65.

Silver  XAGUSD

1. 1. Silver made a low for last week at buying opportunity at 3770/3750 and longs worked perfectly on the bounce to my target at 3825/30 for some profit taking.
2. 2. In the bull trend however we could continue higher & a break above 3845 this week suggest further gains towards 3860/65 & 3880/3885.
3. 3. These targets were achieved yesterday so well done if you managed to run the trade for over 100 ticks.
4. 4. We reached 3907, holding just short of the previous swing high in mid July at 3915.
5. 5. This leaves the possibility for a double top sell signal which is likely to trigger a move back to the strong support level 3740/35.
6. 6. Longs here need stops below 3720.
7. 7. If you want to bet on a double top with a short position, place a stop above 3925.

8. A break above 3925 should be a buy signal targeting 4000 & 4100.

It’s not the smartest traders who succeed, nor those who work the longest hours. It’s traders who learn how to control their emotions.

Learn my trading psychology secrets to gain emotional stability in my FREE 5 day challenge!

Sign up now: https://bit.ly/3RtFyZZ

Join my free telegram group for analysis and signals.

https://t.me/daytradeideas

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.

Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk

Jason Sen, Director

https://www.daytradeideas.co.uk

20250722