The chart suggests a potential bullish breakout for XAUUSD. Here's the analysis based on the image:
1. Chart Pattern: The price appears to be consolidating within a descending wedge, a bullish pattern signaling a potential upward breakout.
2. Entry Point: Wait for a clear breakout above the wedge's resistance before entering a buy position.
3. Target: The target is set near 2661.94, aligning with the anticipated upward move.
4. Stop Loss: A stop loss is positioned at 2638.07, just below recent support, to manage risk effectively.
5. Projection: Post-breakout, the price may retest the wedge's resistance-turned-support before resuming its upward movement toward the target.
Caution: Monitor key market events or news that could impact gold prices, and ensure proper risk management.
1. Chart Pattern: The price appears to be consolidating within a descending wedge, a bullish pattern signaling a potential upward breakout.
2. Entry Point: Wait for a clear breakout above the wedge's resistance before entering a buy position.
3. Target: The target is set near 2661.94, aligning with the anticipated upward move.
4. Stop Loss: A stop loss is positioned at 2638.07, just below recent support, to manage risk effectively.
5. Projection: Post-breakout, the price may retest the wedge's resistance-turned-support before resuming its upward movement toward the target.
Caution: Monitor key market events or news that could impact gold prices, and ensure proper risk management.
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✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
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.
✅ ✅ Perfect Signals Provider With 90% Accuracy
✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
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.