💡Chart Analysis of Gold (XAU/USD) Gold vs. the US Dollar (4-hour timeframe). Previous Trend: Strong uptrend within an ascending channel. Reversal Point: The ascending channel has been broken to the downside (break of channel), indicating a trend reversal.
Price after the breakout: A bearish corrective pattern in the form of a downward-sloping triangle is forming. If this horizontal support is broken, the downward trend is likely to continue. MACD indicator: A gradual decline in positive momentum before fully entering negative momentum, supporting a bearish scenario.
⛔️Not investment advice for educational purposes only.
Price after the breakout: A bearish corrective pattern in the form of a downward-sloping triangle is forming. If this horizontal support is broken, the downward trend is likely to continue. MACD indicator: A gradual decline in positive momentum before fully entering negative momentum, supporting a bearish scenario.
⛔️Not investment advice for educational purposes only.
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.