Price is currently around 3292.400 - 3292.700
TARGET1 : 3360
TARGET2 : 3400
There's a support zone marked near the current price (red rectangle).
A resistance zone is drawn higher up (green rectangle), around the 3350-3380 area.
The price recently had a big drop after a strong uptrend.
It's now consolidating inside a descending wedge/channel — a typical pattern that often breaks upwards.
Two potential scenarios are drawn:
Green Arrow: A bullish breakout above the wedge and resistance.
Red Arrow: A fake breakout or retest and then go up after tapping support again.
Current situation:
Price is at/near support.
Still inside the wedge, but very close to the breakout zone.
Buyers might step in soon if the price respects this support.
A bullish breakout looks slightly more favored based on the wedge pattern and structure.
Summary:
Gold (XAUUSD) is at a critical support. Watch for a breakout above the wedge; if it happens, price may rally toward the resistance area. If it fails, it might dip slightly before still going higher
TARGET1 : 3360
TARGET2 : 3400
There's a support zone marked near the current price (red rectangle).
A resistance zone is drawn higher up (green rectangle), around the 3350-3380 area.
The price recently had a big drop after a strong uptrend.
It's now consolidating inside a descending wedge/channel — a typical pattern that often breaks upwards.
Two potential scenarios are drawn:
Green Arrow: A bullish breakout above the wedge and resistance.
Red Arrow: A fake breakout or retest and then go up after tapping support again.
Current situation:
Price is at/near support.
Still inside the wedge, but very close to the breakout zone.
Buyers might step in soon if the price respects this support.
A bullish breakout looks slightly more favored based on the wedge pattern and structure.
Summary:
Gold (XAUUSD) is at a critical support. Watch for a breakout above the wedge; if it happens, price may rally toward the resistance area. If it fails, it might dip slightly before still going higher
Trade active
trade active from 3291 now gold touch 3339 480 pips running in profit and wait for my target 
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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.
FREE Trading Signals ..
t.me/TradingViewAccurate786
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Smart_Money_Trader_SMC
t.me/TradingViewAccurate786
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Smart_Money_Trader_SMC
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.