XAU/USD LONG VIEW.
*triple top pattern*. A triple top is a bearish reversal pattern that typically forms after an uptrend, signaling a potential trend reversal. Here's how your gold trading setup aligns with this pattern:
---
### *Triple Top Analysis:*
1. *Pattern Structure*:
- A triple top consists of three peaks at approximately the same price level (resistance), followed by a breakdown below the support level (neckline).
- The pattern is confirmed when the price breaks below the neckline, often leading to a significant downward move.
2. *Target Calculation*:
- The *bearish target* is calculated by measuring the height of the pattern (distance from the resistance peak to the neckline) and projecting it downward from the breakout point.
- Formula: *Target = Neckline - (Resistance - Neckline)*
---
### *Your Gold Trade Setup:*
- *Current Price*: 2830 (Sell signal at this level, assuming this is near the neckline or breakdown point).
- *Resistance*: 2932 (triple top peak level).
- *Support/Neckline*: 2938 (this seems inconsistent; typically, the neckline is below the triple top peaks. Double-check this level).
- *Targets*:
- 2903
- 2883
- 2833
- 2783
---
### *Revised Analysis with Triple Top:*
1. *Neckline Confirmation*:
- If the neckline is at *2830* (your sell level), and the triple top resistance is at *2932*, the pattern height is:
- *Height = 2932 - 2830 = 102 points*.
- The *bearish target* would be:
- *Target = 2830 - 102 = 2728*.
2. *My Targets*:
- Your targets (2903, 2883, 2833, 2783) are above and below the current price, which suggests a mix of short-term pullbacks and the final bearish target.
- The most relevant bearish target aligned with the triple top pattern is *2783*, and potentially lower (e.g., 2728).
3. *Support and Resistance*:
- *Resistance at 2932*: This is the triple top peak level. If the price moves back above this level, the triple top pattern is invalidated.
- *Support at 2938*: This level seems too high for a neckline in a triple top pattern. Typically, the neckline is below the peaks. Confirm this level.
---
### *Trading Strategy:*
1. *Sell at 2830*:
- This assumes the price has broken below the neckline, confirming the triple top pattern.
- Place a *stop-loss* above the resistance level (e.g., 2932 or higher, depending on your risk tolerance).
2. *Targets*:
- Short-term targets: 2833, 2783.
- Final target: 2728 (based on the triple top pattern height).
3. *Risk Management*:
- Use proper position sizing and risk-reward ratio.
- Monitor price action for any signs of a reversal or invalidation of the pattern.
---
### *Key Notes:*
- Double-check the *neckline level*. In a triple top pattern, the neckline is typically below the peaks (e.g., around 2830 in this case).
- If the price moves back above the resistance level (2932), the triple top pattern is invalidated, and you should reconsider the trade.
Let me know if you need further clarification or adjustments! 🚀
---
### *Triple Top Analysis:*
1. *Pattern Structure*:
- A triple top consists of three peaks at approximately the same price level (resistance), followed by a breakdown below the support level (neckline).
- The pattern is confirmed when the price breaks below the neckline, often leading to a significant downward move.
2. *Target Calculation*:
- The *bearish target* is calculated by measuring the height of the pattern (distance from the resistance peak to the neckline) and projecting it downward from the breakout point.
- Formula: *Target = Neckline - (Resistance - Neckline)*
---
### *Your Gold Trade Setup:*
- *Current Price*: 2830 (Sell signal at this level, assuming this is near the neckline or breakdown point).
- *Resistance*: 2932 (triple top peak level).
- *Support/Neckline*: 2938 (this seems inconsistent; typically, the neckline is below the triple top peaks. Double-check this level).
- *Targets*:
- 2903
- 2883
- 2833
- 2783
---
### *Revised Analysis with Triple Top:*
1. *Neckline Confirmation*:
- If the neckline is at *2830* (your sell level), and the triple top resistance is at *2932*, the pattern height is:
- *Height = 2932 - 2830 = 102 points*.
- The *bearish target* would be:
- *Target = 2830 - 102 = 2728*.
2. *My Targets*:
- Your targets (2903, 2883, 2833, 2783) are above and below the current price, which suggests a mix of short-term pullbacks and the final bearish target.
- The most relevant bearish target aligned with the triple top pattern is *2783*, and potentially lower (e.g., 2728).
3. *Support and Resistance*:
- *Resistance at 2932*: This is the triple top peak level. If the price moves back above this level, the triple top pattern is invalidated.
- *Support at 2938*: This level seems too high for a neckline in a triple top pattern. Typically, the neckline is below the peaks. Confirm this level.
---
### *Trading Strategy:*
1. *Sell at 2830*:
- This assumes the price has broken below the neckline, confirming the triple top pattern.
- Place a *stop-loss* above the resistance level (e.g., 2932 or higher, depending on your risk tolerance).
2. *Targets*:
- Short-term targets: 2833, 2783.
- Final target: 2728 (based on the triple top pattern height).
3. *Risk Management*:
- Use proper position sizing and risk-reward ratio.
- Monitor price action for any signs of a reversal or invalidation of the pattern.
---
### *Key Notes:*
- Double-check the *neckline level*. In a triple top pattern, the neckline is typically below the peaks (e.g., around 2830 in this case).
- If the price moves back above the resistance level (2932), the triple top pattern is invalidated, and you should reconsider the trade.
Let me know if you need further clarification or adjustments! 🚀
Note
trade active from 2928 sell strong Trade active
Here’s a well-structured post :
📈 gold Sell Trade Update 📈
✅ sell 2nd Entry: 2942
🎯 Take Profit: 260 pips✅ (Successfully Reached!)
profit
🚀 Next Target: 2830 keep hold – Holding Strong!
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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.
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.