Gold Analysis
Following a rejection at the 3,120.00 level last Thursday — a key H4 demand zone — gold is currently forming a triangle pattern.
🟢Bullish Scenario:
If the price breaks above the 3,250.00 level, it may present a buying opportunity with the nearest target at 3,320.00.
🔴Bearish Scenario:
If the price breaks below the lower trendline of the triangle pattern, the nearest selling target is seen around 3,055.00.
Best Regard
Following a rejection at the 3,120.00 level last Thursday — a key H4 demand zone — gold is currently forming a triangle pattern.
🟢Bullish Scenario:
If the price breaks above the 3,250.00 level, it may present a buying opportunity with the nearest target at 3,320.00.
🔴Bearish Scenario:
If the price breaks below the lower trendline of the triangle pattern, the nearest selling target is seen around 3,055.00.
Best Regard
Trade closed: target reached
Taking profit at 3,320.00 as plan
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.
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.