Gold continues to trade within a clearly defined ascending channel on the 30-minute chart. After testing the lower boundary of this channel near the 3,250 USD support zone, price is now showing signs of strength again.
The trend remains bullish as long as the lower trendline holds. Based on the structure and momentum, we could see price push back toward the upper boundary of the channel with a potential target near 3,370 USD.
Key Technical Levels:
Support: 3,250 USD
Current Price: ~3,296 USD
Channel Resistance / Target Zone: 3,370 USD
Idea:
Traders watching for continuation could look for bullish confirmations around current levels. If the channel remains intact, the next leg up could provide a solid opportunity.
As always, manage your risk and watch for any break below the lower trendline that could invalidate this idea.
The trend remains bullish as long as the lower trendline holds. Based on the structure and momentum, we could see price push back toward the upper boundary of the channel with a potential target near 3,370 USD.
Key Technical Levels:
Support: 3,250 USD
Current Price: ~3,296 USD
Channel Resistance / Target Zone: 3,370 USD
Idea:
Traders watching for continuation could look for bullish confirmations around current levels. If the channel remains intact, the next leg up could provide a solid opportunity.
As always, manage your risk and watch for any break below the lower trendline that could invalidate this idea.
Trade active
Trade activate 350 pips.hold guys, confirm target Trade closed: target reached
Successful target! 800 pips. Enjoy guys!
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Related publications
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.