Gold is currently forming a symmetrical triangle within a broader consolidation zone, showing compression between lower highs and higher lows. Price is trading around the EMAs cluster, indicating indecision and a lack of clear momentum.
📌 Key Levels to Watch:
Resistance: 3347 – 3350 zone
Support: 3332 – 3335 zone
📈 Trade Idea:
Breakout Trade: Wait for a clear breakout and retest of the triangle pattern before entering. A breakout above 3350 with strong momentum and volume could open room toward 3362–3368.
Breakdown Trade: If price breaks below 3332 support with a bearish engulfing or strong volume, look for sell setups targeting 3320–3314 zone.
⏳ Wait for:
Breakout from triangle structure with strong impulsive candle
Volume confirmation
Clear direction and EMA alignment post-breakout
Avoid trading in the middle of the range to reduce risk of getting chopped. Let the market reveal direction first. Patience = Precision.
📌 Key Levels to Watch:
Resistance: 3347 – 3350 zone
Support: 3332 – 3335 zone
📈 Trade Idea:
Breakout Trade: Wait for a clear breakout and retest of the triangle pattern before entering. A breakout above 3350 with strong momentum and volume could open room toward 3362–3368.
Breakdown Trade: If price breaks below 3332 support with a bearish engulfing or strong volume, look for sell setups targeting 3320–3314 zone.
⏳ Wait for:
Breakout from triangle structure with strong impulsive candle
Volume confirmation
Clear direction and EMA alignment post-breakout
Avoid trading in the middle of the range to reduce risk of getting chopped. Let the market reveal direction first. Patience = Precision.
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.