Gold Breakout to 2750 - Symmetrical Triangle Setup
Chart Pattern: A symmetrical triangle is forming on the XAU/USD (Gold Spot) 1D chart.
Breakout Zone: The price is approaching the resistance line of the triangle pattern (around 2,670). A confirmed breakout above this line could drive the price to the next target at 2,750.
Confirmation Signal: Look for a daily close above 2,670 with strong volume to confirm the breakout.
Indicators:
RSI: The RSI (7) is at 49.32, indicating neutral momentum. A rise above 52.70 could signal increasing buying strength.
Moving Averages: The MA50 (orange line) supports the price as dynamic support.
Target: 2,750 is the projected price level based on the breakout height of the triangle.
Risk Management: Place a stop-loss below the lower triangle support (around 2,590) to manage downside risk.
Trade Idea:
Enter a long position if the price breaks and closes above 2,670.
Take-Profit at 2,750.
Stop-Loss at 2,590.
XAUUSD XAUUSD XAUUSD
Breakout Zone: The price is approaching the resistance line of the triangle pattern (around 2,670). A confirmed breakout above this line could drive the price to the next target at 2,750.
Confirmation Signal: Look for a daily close above 2,670 with strong volume to confirm the breakout.
Indicators:
RSI: The RSI (7) is at 49.32, indicating neutral momentum. A rise above 52.70 could signal increasing buying strength.
Moving Averages: The MA50 (orange line) supports the price as dynamic support.
Target: 2,750 is the projected price level based on the breakout height of the triangle.
Risk Management: Place a stop-loss below the lower triangle support (around 2,590) to manage downside risk.
Trade Idea:
Enter a long position if the price breaks and closes above 2,670.
Take-Profit at 2,750.
Stop-Loss at 2,590.
XAUUSD XAUUSD XAUUSD 
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.