Gold Setup: Breakout Levels Marked

semalam

Gold is moving inside 4H symmetrical triangle and waiting for a proper breakout. Price is holding above the 4080-4120 and also above the rising trendline so the structure is still slightly bullish. If gold breaks above the upper trendline 4185 it can quickly move toward 4280 and then 4460. But if it breaks below the rising trendline 4060 and the support zone gold can fall toward 4000, 3900 and more to 3800.

Buy Setup

• Buy Zone: 4080-4120 only if price shows support or a bounce
  
• Breakout Buy: 4185 Above the upper black trendline
  
• Targets: TP1 4280, TP2 4460, TP3 4555
  

Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!

semalam

Nota

Here is 1H chart where you can see a clear W pattern (double bottom) where price bounced each time and then finally broke above the neckline near 4120-25. This breakout confirms the W pattern and signals that buyers have taken control. As long as price stays above the neckline the pattern suggests continuation toward the next resistance 4185-4200. But if price pulls back to retest the neckline and holds it becomes a fresh long trigger. A drop back below the neckline would invalidate the bullish W pattern idea.
Today CPI data will be released which will confirm the next move. So today could be an other liquidation days like NFP lol so be careful.

15 jam lalu

Dagangan aktif

Gold is holding above the breakout zone around 4105–4110 after completing a clear W-pattern. Price is now pushing toward the major resistance at 4180–4185. A clean breakout above 4185 can open the way toward 4220–4250. But if price fails to break expect a pullback toward 4125–4105 for support retest. Trend is bullish as long as it stays above 4105.