Welcome back, traders, it’s Skeptic! 😎 Is XAU/USD about to explode or crash?
We’ve formed a symmetrical triangle pattern, and its breakout triggers could deliver solid profits for longs or shorts. Let’s dive into the details with the Daily timeframe to see the big picture.
✔️ Daily Timeframe: Our HWC is strongly bullish. After hitting $3,497.80, we entered a secondary retracement phase, forming a symmetrical triangle. If we break resistance at $3,444.18, my targets are the next ceiling at $3,494.50 and, long-term, $3,796.64. But if we break support at $3,796.64, it could signal a major trend change from uptrend to downtrend, opening shorts. Next supports are $3,206.32 and $3,019.31—use these as your targets.
📊 Key Insight: Risk management is key to surviving financial markets. Stick to max 1%–2% risk per trade to stay safe.
📉 Market Context: Markets are predicting a major recession in the U.S. economy. If it happens, Gold will be the only safe-haven asset. So, I personally favor riding Gold’s uptrend.
This historic drop screams one thing: global markets are losing faith in U.S. monetary and fiscal policies, big time.
And that’s a loud wake-up call for investors: It’s time to bulletproof your portfolio. What’s that mean?
Your stocks, real estate, cash, bonds, you name it...
They’re slowly but surely turning to Gold.
💬 Let’s Talk!
Which Gold trigger are you eyeing? Hit the comments, and let’s crush it together! 😊 If this update lit your fire, smash that boost—it fuels my mission! ✌️
We’ve formed a symmetrical triangle pattern, and its breakout triggers could deliver solid profits for longs or shorts. Let’s dive into the details with the Daily timeframe to see the big picture.
✔️ Daily Timeframe: Our HWC is strongly bullish. After hitting $3,497.80, we entered a secondary retracement phase, forming a symmetrical triangle. If we break resistance at $3,444.18, my targets are the next ceiling at $3,494.50 and, long-term, $3,796.64. But if we break support at $3,796.64, it could signal a major trend change from uptrend to downtrend, opening shorts. Next supports are $3,206.32 and $3,019.31—use these as your targets.
📊 Key Insight: Risk management is key to surviving financial markets. Stick to max 1%–2% risk per trade to stay safe.
📉 Market Context: Markets are predicting a major recession in the U.S. economy. If it happens, Gold will be the only safe-haven asset. So, I personally favor riding Gold’s uptrend.
This historic drop screams one thing: global markets are losing faith in U.S. monetary and fiscal policies, big time.
And that’s a loud wake-up call for investors: It’s time to bulletproof your portfolio. What’s that mean?
Your stocks, real estate, cash, bonds, you name it...
They’re slowly but surely turning to Gold.
💬 Let’s Talk!
Which Gold trigger are you eyeing? Hit the comments, and let’s crush it together! 😊 If this update lit your fire, smash that boost—it fuels my mission! ✌️
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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.
Related publications
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.