Gold is coiling tightly within a symmetrical triangle on the 5-minute chart, pressing against key support around 3,352. Price action is compressing between a rising trendline and descending resistance — indicating an imminent breakout.
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📍 Key Levels:
• Support: 3,352-3,350 zone – defending so far.
• Resistance: 3,360-3,366 area – repeated rejection above.
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🔎 What I’m Watching:
✅ Break below the rising trendline could trigger a quick drop toward 3,340 and possibly 3,333.
✅ Break above the descending trendline may fuel a rally back toward 3,366-3,370.
🕒 Timing matters: volume is building as price nears the apex — be ready for a spike in volatility.
⸻
📌 Plan:
• Wait for a clear 5M candle close outside the triangle for confirmation.
• Set alerts at 3,349 and 3,362 to catch the breakout early.
• Manage risk tightly – false breakouts are common in squeeze patterns.
⸻
💬 How are you trading this setup? Drop your thoughts below ⬇️ and let’s discuss!
⸻
📍 Key Levels:
• Support: 3,352-3,350 zone – defending so far.
• Resistance: 3,360-3,366 area – repeated rejection above.
⸻
🔎 What I’m Watching:
✅ Break below the rising trendline could trigger a quick drop toward 3,340 and possibly 3,333.
✅ Break above the descending trendline may fuel a rally back toward 3,366-3,370.
🕒 Timing matters: volume is building as price nears the apex — be ready for a spike in volatility.
⸻
📌 Plan:
• Wait for a clear 5M candle close outside the triangle for confirmation.
• Set alerts at 3,349 and 3,362 to catch the breakout early.
• Manage risk tightly – false breakouts are common in squeeze patterns.
⸻
💬 How are you trading this setup? Drop your thoughts below ⬇️ and let’s discuss!
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.