After another week filled with violent price swings, Gold started this week on a much calmer note. Yesterday, after filling the Asia open gap, price pushed up to test the 3250 resistance, only to reverse and fall back toward the 3210 support zone.
🔺 A triangle is forming… but which way will it break?
Since last Thursday, price action has been forming an ascending triangle — a pattern that typically favors upside breakouts.
But for this to play out, we need a clean break above 3250. If that happens, we could see a fresh 1,000 pips move up in the short term.
📉 What if 3200 fails again?
A break back below 3200 would cancel the bullish structure and likely send price toward the 3160 support, or even further down to the 3100 zone.
📊 Trading Plan:
For now, I remain on the sidelines, waiting for a clear breakout in either direction. No need to rush — the breakout should bring strong momentum either way.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
🔺 A triangle is forming… but which way will it break?
Since last Thursday, price action has been forming an ascending triangle — a pattern that typically favors upside breakouts.
But for this to play out, we need a clean break above 3250. If that happens, we could see a fresh 1,000 pips move up in the short term.
📉 What if 3200 fails again?
A break back below 3200 would cancel the bullish structure and likely send price toward the 3160 support, or even further down to the 3100 zone.
📊 Trading Plan:
For now, I remain on the sidelines, waiting for a clear breakout in either direction. No need to rush — the breakout should bring strong momentum either way.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.