TRENDS
Instrument: The chart appears to be tracking XAU/USD (Gold), as indicated on the right-hand side.
• Trend: The price is moving upwards within a parallel channel, showing a consistent uptrend.
• Fibonacci Retracement & Extensions:
• Various Fibonacci levels are marked, which act as potential support and resistance zones.
• The 0.786 Fibonacci level is a key retracement area currently being tested.
• Projected Move:
• A green highlighted area indicates a potential bullish move, suggesting an anticipated breakout toward higher levels.
• The 1.618 Fibonacci extension level aligns with the target.
• Support & Resistance:
• Several horizontal lines indicate previous highs and lows, likely acting as key decision points.
• The price recently retested the lower boundary of the channel and bounced back, reinforcing the trend.
• Trend: The price is moving upwards within a parallel channel, showing a consistent uptrend.
• Fibonacci Retracement & Extensions:
• Various Fibonacci levels are marked, which act as potential support and resistance zones.
• The 0.786 Fibonacci level is a key retracement area currently being tested.
• Projected Move:
• A green highlighted area indicates a potential bullish move, suggesting an anticipated breakout toward higher levels.
• The 1.618 Fibonacci extension level aligns with the target.
• Support & Resistance:
• Several horizontal lines indicate previous highs and lows, likely acting as key decision points.
• The price recently retested the lower boundary of the channel and bounced back, reinforcing the trend.
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.