Ascending Triangle Breakout in Play!
🚀 Ascending Triangle Breakout in Play! 🚀
Gold (XAUUSD) has formed a bullish ascending triangle, signaling strong buying pressure. Price has successfully broken out of the resistance zone, confirming an upward impulse.
Key Levels:
🔹 Breakout Level: [2937]
🔹 First Target: $2985 (impulse move)
🔹 Next Target: $3000+ (psychological resistance)
Market Structure & Momentum:
✅ Higher lows indicate strong demand
✅ Breakout volume supports the move
✅ Bullish momentum suggests continuation
📌 Trading Plan:
🎯 Enter on a retest of the breakout level or a strong candle confirmation
🎯 SL below previous support level (tight risk management)
🎯 TP at $2985 first, then trail stops for potential extension
If momentum continues, we could see $3000+ and beyond in the next bullish wave! 🌟
📊 Stay disciplined & manage risk! 🚀💰
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.