XAU/USD 4HTechnical Analysis Rising Channel with strong bullish The price action shows:
A parabolic uptrend inside a rising channel (or pitchfork structure).
Recent breakout attempt toward the upper band.
Fibonacci retracements drawn for pullback projections.
This looks like a rising channel / ascending channel with parabolic acceleration.
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🔹 Targets
From your chart:
Immediate target shown is around 3700 USD (upper channel resistance).
If bullish momentum continues, extension targets are 3750 – 3800 USD.
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🔹 Stop Loss
A good protective stop is below the mid-channel line, around 3400 – 3450 USD.
A tighter stop could be just under the last breakout zone: 3550 – 3580 USD (aggressive).
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🔹 Support Levels
1. 3550 – 3580 USD → short-term support.
2. 3450 – 3480 USD → mid support (channel median + Fib zone).
3. 3300 – 3350 USD → strong support (Fib + previous base).
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🔹 Resistance Levels
1. 3700 – 3720 USD (current key resistance).
2. 3800 USD (upper channel / Fib extension).
3. 4000 USD psychological level (long-term projection).
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✅ Suggested Trading Plan (swing perspective):
Entry: On dips near 3550–3600 USD or breakout above 3700 USD.
Target: 3720 → 3800 USD.
Stop Loss: Below 3450 USD (swing safe) or 3580 USD (tight).
