🟡 GOLD – Triangle Formation Breakdown (Bearish Continuation Pattern)
-> Gold is forming a falling triangle pattern, typically a bearish continuation setup.
-> The structure has completed all 5 internal corrective waves within the triangle.
-> Price is nearing the triangle apex, indicating a likely breakout soon.
-> Since the pattern occurred within a prior downtrend, the breakout is expected to be to the
downside.
-> A breakdown from the triangle is expected to trigger an impulsive fall.
-> Target: ₹2940 levels, projected from the triangle's height.
-> Volume behavior supports the triangle formation – low volume consolidation before
breakout.
-> Entry confirmation suggested only after a strong bearish candle close below the triangle
support.
⚠️ Disclaimer:
This analysis is intended for educational and informational purposes only and should not be considered financial advice or a recommendation to buy or sell any asset. Please perform your own research or consult a licensed financial advisor before making trading decisions. Trading involves substantial risk and is not suitable for all investors.
-> Gold is forming a falling triangle pattern, typically a bearish continuation setup.
-> The structure has completed all 5 internal corrective waves within the triangle.
-> Price is nearing the triangle apex, indicating a likely breakout soon.
-> Since the pattern occurred within a prior downtrend, the breakout is expected to be to the
downside.
-> A breakdown from the triangle is expected to trigger an impulsive fall.
-> Target: ₹2940 levels, projected from the triangle's height.
-> Volume behavior supports the triangle formation – low volume consolidation before
breakout.
-> Entry confirmation suggested only after a strong bearish candle close below the triangle
support.
⚠️ Disclaimer:
This analysis is intended for educational and informational purposes only and should not be considered financial advice or a recommendation to buy or sell any asset. Please perform your own research or consult a licensed financial advisor before making trading decisions. Trading involves substantial risk and is not suitable for all investors.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.