Key Observations:
Market is respecting both triangle trendlines, forming lower highs and higher lows.
Price is currently hovering near the middle of the structure after bouncing off the support area around 198.100–198.200.
A short-term pullback may occur before a possible continuation toward the triangle resistance (~198.800).
📌 Trade Setup (Idea):
Buy on Pullback: Around 198.200–198.250 zone
Stop Loss: Below 198.000 (below structure support)
Target 1: 198.700
Target 2: 198.900–199.000 (resistance breakout area)
📈 Scenario Outlook: If price breaks above the upper trendline of the triangle with momentum, we may see a bullish continuation toward 199.200+. However, if it breaks below the support zone, a deeper correction toward 197.500 may follow.
⚠️ Confirmation is key. Wait for bullish candlestick signals or breakout retest before entering. Apply proper risk management.
Market is respecting both triangle trendlines, forming lower highs and higher lows.
Price is currently hovering near the middle of the structure after bouncing off the support area around 198.100–198.200.
A short-term pullback may occur before a possible continuation toward the triangle resistance (~198.800).
📌 Trade Setup (Idea):
Buy on Pullback: Around 198.200–198.250 zone
Stop Loss: Below 198.000 (below structure support)
Target 1: 198.700
Target 2: 198.900–199.000 (resistance breakout area)
📈 Scenario Outlook: If price breaks above the upper trendline of the triangle with momentum, we may see a bullish continuation toward 199.200+. However, if it breaks below the support zone, a deeper correction toward 197.500 may follow.
⚠️ Confirmation is key. Wait for bullish candlestick signals or breakout retest before entering. Apply proper risk management.
💼 FX & Gold Market Specialist | Trader & Mentor
✅ Verified TradingView Contributor
📊 Focus: XAUUSD | Risk Management | ROI Strategies
🔗 Telegram: t.me/+I3cp4J9F2PU4MmZk
✅ Verified TradingView Contributor
📊 Focus: XAUUSD | Risk Management | ROI Strategies
🔗 Telegram: t.me/+I3cp4J9F2PU4MmZk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💼 FX & Gold Market Specialist | Trader & Mentor
✅ Verified TradingView Contributor
📊 Focus: XAUUSD | Risk Management | ROI Strategies
🔗 Telegram: t.me/+I3cp4J9F2PU4MmZk
✅ Verified TradingView Contributor
📊 Focus: XAUUSD | Risk Management | ROI Strategies
🔗 Telegram: t.me/+I3cp4J9F2PU4MmZk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.