This chart displays a descending triangle pattern in the gold market (XAU/USD) on a 1-hour timeframe. The price is consolidating within a narrowing range, and a breakout is anticipated. The chart suggests a potential bullish breakout above the resistance level.
Key levels:
Breakout Zone: Around $3,040
Take Profit 1 (TP1): $3,043
Final Target: $3,050
Traders should watch for confirmation of the breakout before entering long positions. If the breakout is successful, gold may reach the 3050 target level.
Note: This is not a trading signal, just my personal analysis based on current market trends.
Key levels:
Breakout Zone: Around $3,040
Take Profit 1 (TP1): $3,043
Final Target: $3,050
Traders should watch for confirmation of the breakout before entering long positions. If the breakout is successful, gold may reach the 3050 target level.
Note: This is not a trading signal, just my personal analysis based on current market trends.
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.