This chart appears to be a *technical analysis* of *Gold (XAU/USD) on the 4-hour timeframe* using several tools and patterns. Here’s what I can identify:
### *Tools & Indicators Used:*
1. *Parallel Channels:*
- There are multiple *ascending channels*, including a blue channel where price is moving upwards.
- The price appears to be respecting the channel boundaries, which suggests a strong uptrend.
2. *Fibonacci Retracement:*
- A *50% retracement level* is marked, which is commonly used to identify potential support and resistance levels.
3. *Volume Profile (Visible Range - VPVR):*
- The *pink and blue horizontal bars on the left* show *traded volume at different price levels* (higher volume areas can act as strong support/resistance).
4. *Break of Structure (BOS) & Change of Character (CHOCH):*
- "BOS" (Break of Structure) labels indicate trend continuation or shifts.
- "CHOCH" (Change of Character) may signal a possible *reversal or trend change.*
5. *Forecast & Projections:*
- Arrows and extended trend lines suggest an expectation for price to continue *bullish movement* toward higher resistance levels.
6. *Pitchfork.* (Bullish Out-look).* if the price stays inside the pitchfork and respects it's trend, it may continue rising towards the upper boundry.*
### *Possible Patterns Observed:*
- *Bullish Channel Pattern:* Suggesting an uptrend continuation.
- *Breakout Retest Strategy:* Price might be testing previous resistance as new support before continuing higher.
Would you like any specific insights on this analysis?
### *Tools & Indicators Used:*
1. *Parallel Channels:*
- There are multiple *ascending channels*, including a blue channel where price is moving upwards.
- The price appears to be respecting the channel boundaries, which suggests a strong uptrend.
2. *Fibonacci Retracement:*
- A *50% retracement level* is marked, which is commonly used to identify potential support and resistance levels.
3. *Volume Profile (Visible Range - VPVR):*
- The *pink and blue horizontal bars on the left* show *traded volume at different price levels* (higher volume areas can act as strong support/resistance).
4. *Break of Structure (BOS) & Change of Character (CHOCH):*
- "BOS" (Break of Structure) labels indicate trend continuation or shifts.
- "CHOCH" (Change of Character) may signal a possible *reversal or trend change.*
5. *Forecast & Projections:*
- Arrows and extended trend lines suggest an expectation for price to continue *bullish movement* toward higher resistance levels.
6. *Pitchfork.* (Bullish Out-look).* if the price stays inside the pitchfork and respects it's trend, it may continue rising towards the upper boundry.*
### *Possible Patterns Observed:*
- *Bullish Channel Pattern:* Suggesting an uptrend continuation.
- *Breakout Retest Strategy:* Price might be testing previous resistance as new support before continuing higher.
Would you like any specific insights on this analysis?
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.