Gold Approaching Critical Triangle Breakout Amid Upcom
Gold is currently consolidating within a descending triangle on the daily chart. With the upcoming US GDP data release on Thursday, I anticipate significant volatility that could lead to a breakout.
Support Zone: $2,280 - $2,300
Resistance Zone: $2,407 - $2,450
Breakout Strategy:
Buy Setup:
Enter long on a break above the upper trendline.
Targets: RESISTANCE
Stop Loss: Below the breakout daily candle or lower trendline ($2,310)
Sell Setup:
Enter short on a break below the lower zone.
Fundamental Insight:
The US GDP data on Thursday could be the catalyst for a breakout. Strong GDP figures might boost the USD, leading to a bearish breakout, while weak GDP data could weaken the USD, prompting a bullish breakout.
Keep an eye on these key levels and be ready to react to the market's response to the GDP data.
Support Zone: $2,280 - $2,300
Resistance Zone: $2,407 - $2,450
Breakout Strategy:
Buy Setup:
Enter long on a break above the upper trendline.
Targets: RESISTANCE
Stop Loss: Below the breakout daily candle or lower trendline ($2,310)
Sell Setup:
Enter short on a break below the lower zone.
Fundamental Insight:
The US GDP data on Thursday could be the catalyst for a breakout. Strong GDP figures might boost the USD, leading to a bearish breakout, while weak GDP data could weaken the USD, prompting a bullish breakout.
Keep an eye on these key levels and be ready to react to the market's response to the GDP data.
Nota
till now we are going to be in the green pathNota
short term traders, you could search for reasons to long the pairNota
Get ready to short the pair, may be in the next week!Nota
It might start dropping soon or late!Dagangan ditutup: hentian tercapai
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.