On the 2-hour timeframe, gold continues to consolidate inside a well-defined contracting triangle, marked by a series of lower highs and higher lows, suggesting reduced volatility before a directional move. The structure appears to follow a five-leg correction (waves 1–5), which may now be nearing completion.
The focus is now on how price reacts to the upper boundary of the triangle, but $3,310 is not a decisive level. Instead, the key signal will come from a breakout from the triangle itself with confirmed follow-through and volume.
Technical view:
– Structure: classic five-leg triangle forming inside the broader retracement
– Volume is increasing on approach to the upper boundary
– Fibonacci retracement levels in play above:
• $3,351 (0.618)
• $3,380 (0.5)
• $3,443 (0.236)
– Critical support remains along the lower triangle base and near the $3,258–$3,192 zone
– Breakdown below $3,192 would invalidate the bullish scenario
Scenario outlook:
This is a hypothetical pattern completion. If the triangle resolves upward, momentum could push price toward $3,350+, aligning with Fibonacci recovery targets.
Conclusion:
Gold is moving toward the decision point inside a contracting triangle. Watch for breakout confirmation from the structure itself — not individual levels. Until confirmed, this remains a potential scenario, not an active signal.
The focus is now on how price reacts to the upper boundary of the triangle, but $3,310 is not a decisive level. Instead, the key signal will come from a breakout from the triangle itself with confirmed follow-through and volume.
Technical view:
– Structure: classic five-leg triangle forming inside the broader retracement
– Volume is increasing on approach to the upper boundary
– Fibonacci retracement levels in play above:
• $3,351 (0.618)
• $3,380 (0.5)
• $3,443 (0.236)
– Critical support remains along the lower triangle base and near the $3,258–$3,192 zone
– Breakdown below $3,192 would invalidate the bullish scenario
Scenario outlook:
This is a hypothetical pattern completion. If the triangle resolves upward, momentum could push price toward $3,350+, aligning with Fibonacci recovery targets.
Conclusion:
Gold is moving toward the decision point inside a contracting triangle. Watch for breakout confirmation from the structure itself — not individual levels. Until confirmed, this remains a potential scenario, not an active signal.
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🔗 Сайт totoshkatrades.com
👨🎓 Наш телеграм t.me/totoshkatrading
🉐 Платформы linktr.ee/totoshka55
💬 Наши контакты @Totoshkatips
👨🎓 Наш телеграм t.me/totoshkatrading
🉐 Платформы linktr.ee/totoshka55
💬 Наши контакты @Totoshkatips
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.