This is a technical analysis chart of Gold Spot vs. USD (XAU/USD) on the 4-hour timeframe. Here’s a breakdown of what the chart is showing:
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Trend Overview
The chart shows an ascending triangle pattern, a bullish continuation setup.
Price has been making higher lows (blue arrows), while resistance is flat near the $3,372–$3,374 level.
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Key Elements:
Support & Resistance:
Resistance Level: ~$3,372 (horizontal turquoise line).
Support Line: Upward-sloping trendline connecting higher lows.
Stop Loss (SL): ~$3,298 level (marked in red).
Take Profit Zones:
First Take Profit: ~$3,440 (grey zone).
Second Take Profit: ~$3,520+ (red line and arrow).
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Strategy Implied:
Entry Idea: A breakout above $3,372 could trigger long positions.
Stop-Loss: Below the last swing low and ascending trendline (~$3,298).
Target Levels:
TP1: ~$3,440 (conservative).
TP2: ~$3,520 (aggressive, prior high).
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Technical Interpretation:
A confirmed breakout of the resistance zone (with a candle close above) supports a bullish move.
Risk-to-reward seems favorable if entering near breakout and using tight SL.
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Would you like a trade plan written out (entry, SL, TP, risk management), or do you want this pattern validated with further indicators like RSI, MACD, or volume?
---
Trend Overview
The chart shows an ascending triangle pattern, a bullish continuation setup.
Price has been making higher lows (blue arrows), while resistance is flat near the $3,372–$3,374 level.
---
Key Elements:
Support & Resistance:
Resistance Level: ~$3,372 (horizontal turquoise line).
Support Line: Upward-sloping trendline connecting higher lows.
Stop Loss (SL): ~$3,298 level (marked in red).
Take Profit Zones:
First Take Profit: ~$3,440 (grey zone).
Second Take Profit: ~$3,520+ (red line and arrow).
---
Strategy Implied:
Entry Idea: A breakout above $3,372 could trigger long positions.
Stop-Loss: Below the last swing low and ascending trendline (~$3,298).
Target Levels:
TP1: ~$3,440 (conservative).
TP2: ~$3,520 (aggressive, prior high).
---
Technical Interpretation:
A confirmed breakout of the resistance zone (with a candle close above) supports a bullish move.
Risk-to-reward seems favorable if entering near breakout and using tight SL.
---
Would you like a trade plan written out (entry, SL, TP, risk management), or do you want this pattern validated with further indicators like RSI, MACD, or volume?
Trade active
ACTIVE TARGETTrade closed: target reached
ACTIVE TAGDE
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.