Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
The price was consolidating for an extended period inside a wide, horizontal range.
A strong bullish impulse eventually broke the price out above the resistance of that flat channel.
This breakout move created a new significant high before sellers forcefully rejected the price downwards.
This rejection marked the beginning of the current falling wedge pattern, which has guided the price lower since.
The decline within the wedge has now brought the asset down to a critical historical support zone at $3285.
I expect that this key support will hold, causing a reversal and a new rally that targets the $3345
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
The price was consolidating for an extended period inside a wide, horizontal range.
A strong bullish impulse eventually broke the price out above the resistance of that flat channel.
This breakout move created a new significant high before sellers forcefully rejected the price downwards.
This rejection marked the beginning of the current falling wedge pattern, which has guided the price lower since.
The decline within the wedge has now brought the asset down to a critical historical support zone at $3285.
I expect that this key support will hold, causing a reversal and a new rally that targets the $3345
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Trade active
Nice one! Price fell to support level and turned around and started to grow.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
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.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
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.