Hey, friends
On the 4-hour time frame,
XAU is forming a symmetrical triangle pattern, but we haven’t seen any breakout yet, we’re still trading inside the triangle.
If we look at the LTF, we’re currently at the 0.236 FIB level, which isn’t a very strong buying zone, but technically, we’ve broken out of a falling wedge and are now retesting it.
That looks pretty good, and if this setup plays out well, we could see an upward move toward $3,470.
However, there’s a strong resistance around $3,350 to $3,370 that we need to break first. If we break that, it will also confirm the breakout of the symmetrical triangle from the 4-hour chart.
So keep an eye on those areas!
#GOLD #forextrading
On the 4-hour time frame,
XAU is forming a symmetrical triangle pattern, but we haven’t seen any breakout yet, we’re still trading inside the triangle.If we look at the LTF, we’re currently at the 0.236 FIB level, which isn’t a very strong buying zone, but technically, we’ve broken out of a falling wedge and are now retesting it.
That looks pretty good, and if this setup plays out well, we could see an upward move toward $3,470.
However, there’s a strong resistance around $3,350 to $3,370 that we need to break first. If we break that, it will also confirm the breakout of the symmetrical triangle from the 4-hour chart.
So keep an eye on those areas!
#GOLD #forextrading
Trade active
Gold is still holding the key support zone around $3,285–$3,290 and slowly gaining strength.
As long as this level holds, we could see the price move up to $3,320, and if momentum stays strong, maybe even $3,340+.
The structure looks good, and buyers are stepping in.
Keep an eye on a possible breakout above the dotted trendline. 👀
#XAUUSD
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bingx.com/invite/WKCI5X/
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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.
Register on BingX and trade with me: 👇
bingx.com/invite/WKCI5X/
Free TG Daily Futures Signals: 👉 t.me/CRYPTOMOJO_TA
bingx.com/invite/WKCI5X/
Free TG Daily Futures Signals: 👉 t.me/CRYPTOMOJO_TA
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.