This is a technical analysis chart for Gold Spot vs. U.S. Dollar (XAU/USD) on the 1-hour timeframe. Here's a breakdown of what it's showing:
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🔍 Key Observations:
1. Falling Wedge Pattern (Bullish Reversal)
The chart highlights a falling wedge pattern (light blue area).
This pattern often indicates a potential bullish breakout, especially if it occurs after an uptrend.
2. Entry and Target Levels:
Entry Point: 3329 (marked near the current price)
Target: 3351
The price has already approached the entry zone (~3329) and may now be looking to bounce upward.
3. Support and Resistance:
Support Levels:
Immediate: 3,329.120
Stronger: 3,320.387
Resistance Levels:
Immediate: 3,351 (target zone)
Major: 3,378.190 (top of the range)
4. Risk/Reward Setup:
The setup offers a long (buy) trade from the 3329 zone.
Target at 3351 provides about 22 points upside.
Stop-loss likely placed just below support (~3320–3325), offering a decent risk-reward ratio.
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✅ Bullish Confirmation:
If price breaks out of the wedge and holds above 3330–3335, it increases the likelihood of hitting the 3351 target.
⚠ Bearish Risk:
If price breaks below 3320, the pattern may fail, and a deeper retracement toward the 3240 zone could follow.
---
Let me know if you’d like:
Stop-loss suggestions
Risk/reward ratio calculations
A similar analysis for a different asset or timeframe
---
🔍 Key Observations:
1. Falling Wedge Pattern (Bullish Reversal)
The chart highlights a falling wedge pattern (light blue area).
This pattern often indicates a potential bullish breakout, especially if it occurs after an uptrend.
2. Entry and Target Levels:
Entry Point: 3329 (marked near the current price)
Target: 3351
The price has already approached the entry zone (~3329) and may now be looking to bounce upward.
3. Support and Resistance:
Support Levels:
Immediate: 3,329.120
Stronger: 3,320.387
Resistance Levels:
Immediate: 3,351 (target zone)
Major: 3,378.190 (top of the range)
4. Risk/Reward Setup:
The setup offers a long (buy) trade from the 3329 zone.
Target at 3351 provides about 22 points upside.
Stop-loss likely placed just below support (~3320–3325), offering a decent risk-reward ratio.
---
✅ Bullish Confirmation:
If price breaks out of the wedge and holds above 3330–3335, it increases the likelihood of hitting the 3351 target.
⚠ Bearish Risk:
If price breaks below 3320, the pattern may fail, and a deeper retracement toward the 3240 zone could follow.
---
Let me know if you’d like:
Stop-loss suggestions
Risk/reward ratio calculations
A similar analysis for a different asset or timeframe
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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.
Join telegram free...
t.me/+16bIVCNBo0MzYzk0
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/+16bIVCNBo0MzYzk0
t.me/+16bIVCNBo0MzYzk0
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/+16bIVCNBo0MzYzk0
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.