🟡 XAU/USD (Gold) – Long Opportunity from Ascending Triangle Breakout
Gold is showing a strong bullish structure with a well-formed ascending triangle on the chart, often a signal of continuation in an uptrend.
🔸 Key Technicals:
Rising trendline of higher lows indicates strong buyer interest.
Horizontal resistance at $3,255 has been tested multiple times.
Volume and structure suggest a potential breakout above resistance.
🔸 Trade Idea:
Entry: Upon breakout and retest of the $3,255 zone.
Stop-Loss: Below recent support and trendline (~$3,223).
Take Profit 1: $3,322 – Move SL to breakeven once hit.
Take Profit 2: $3,388 – Based on the height of the triangle projected upward.
This setup offers a clean 4% move with solid risk-to-reward. Ideal for swing traders watching Gold’s reaction to macroeconomic events.
📌 Always wait for breakout confirmation and manage risk wisely.
Let’s see if the bulls have what it takes to push through! 🚀
Gold is showing a strong bullish structure with a well-formed ascending triangle on the chart, often a signal of continuation in an uptrend.
🔸 Key Technicals:
Rising trendline of higher lows indicates strong buyer interest.
Horizontal resistance at $3,255 has been tested multiple times.
Volume and structure suggest a potential breakout above resistance.
🔸 Trade Idea:
Entry: Upon breakout and retest of the $3,255 zone.
Stop-Loss: Below recent support and trendline (~$3,223).
Take Profit 1: $3,322 – Move SL to breakeven once hit.
Take Profit 2: $3,388 – Based on the height of the triangle projected upward.
This setup offers a clean 4% move with solid risk-to-reward. Ideal for swing traders watching Gold’s reaction to macroeconomic events.
📌 Always wait for breakout confirmation and manage risk wisely.
Let’s see if the bulls have what it takes to push through! 🚀
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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.
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.