XAUUSD (Gold Spot vs. USD) 4-hour chart a symmetrical triangle pattern forming after a consolidation phase. This pattern is typically neutral but can lead to a breakout in the direction of prevailing momentum.
Entry Zone:
Buy Entry: On confirmed breakout above the upper resistance trendline (around 3,351–3,340 USD).
Confirmation: Look for a strong bullish candle close above the triangle with increased volume and a break above recent highs.
Target Points:
Target 1: ~3,420 USD
Target 2: ~3,500 USD
(Measured using the height of the triangle projected from the breakout point)
Stop Loss:
Just below the breakout candle low or below the last swing low (~3,280–3,300 USD), depending on your risk tolerance.
Risk-Reward Ratio:
R:R ~1:2 to 1:3, depending on exact entry and stop levels.
Indicators Used:
Ichimoku Cloud shows early support and a potential bullish trend.
Chart pattern trendlines indicate compression before potential breakout.
Trade Setup Summary:
Pattern: Symmetrical Triangle
Bias: Bullish breakout
Entry: On breakout above resistance
TPs: 3,420 and 3,500
SL: Below 3,300
Entry Zone:
Buy Entry: On confirmed breakout above the upper resistance trendline (around 3,351–3,340 USD).
Confirmation: Look for a strong bullish candle close above the triangle with increased volume and a break above recent highs.
Target Points:
Target 1: ~3,420 USD
Target 2: ~3,500 USD
(Measured using the height of the triangle projected from the breakout point)
Stop Loss:
Just below the breakout candle low or below the last swing low (~3,280–3,300 USD), depending on your risk tolerance.
Risk-Reward Ratio:
R:R ~1:2 to 1:3, depending on exact entry and stop levels.
Indicators Used:
Ichimoku Cloud shows early support and a potential bullish trend.
Chart pattern trendlines indicate compression before potential breakout.
Trade Setup Summary:
Pattern: Symmetrical Triangle
Bias: Bullish breakout
Entry: On breakout above resistance
TPs: 3,420 and 3,500
SL: Below 3,300
Trade active
trade active Note
Entry 3340 running profit 530+ pips running wait for more buy Trade closed: stop reached
entry from 3351-3340 Target 3420
gold touch 3403 secured 630+ pips
now close Gold
t.me/Smart_Money_Flow_SMF
Forex, Gold & crypto Signals with detailed Analysis .
t.me/Smart_Money_Flow_SMF
Gold Signals With proper TP & SL
Forex, Gold & crypto Signals with detailed Analysis .
t.me/Smart_Money_Flow_SMF
Gold Signals With proper TP & SL
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.
t.me/Smart_Money_Flow_SMF
Forex, Gold & crypto Signals with detailed Analysis .
t.me/Smart_Money_Flow_SMF
Gold Signals With proper TP & SL
Forex, Gold & crypto Signals with detailed Analysis .
t.me/Smart_Money_Flow_SMF
Gold Signals With proper TP & SL
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.