Overview:
A potential bullish breakout from a triangle pattern, signaling a continuation of the uptrend.
Key Technical Insights:
🔹 Triangle Formation Breakout
Gold price has been consolidating inside a symmetrical triangle, a common pattern before a breakout.
The price has just broken above the resistance, confirming a potential bullish move.
🔹 Support & Resistance Levels:
Support: Around 2,933 - 2,935 USD, acting as a retest zone after the breakout.
Resistance: Near 2,946 - 2,950 USD, the last hurdle before the next rally.
🔹 Target Projection:
Based on the triangle breakout measurement, a potential 3.75% move (110 USD) to around 3,044 USD is anticipated.
Trade Plan:
📌 Entry Strategy:
A retest of 2,935 USD could provide a better entry for confirmation.
Aggressive traders may enter immediately after breakout confirmation.
📌 Stop Loss:
Below 2,914 USD, invalidating the breakout structure.
📌 Take Profit Target:
Around 3,044 USD, aligning with the measured breakout target.
Final Thoughts:
✅ Breakout confirmed – waiting for retest to enter safely.
✅ Momentum and volume support bullish continuation.
✅ Caution if price falls below 2,914 USD, invalidating the pattern.
📈 Gold remains in an uptrend – monitor price action for confirmation! 🚀
A potential bullish breakout from a triangle pattern, signaling a continuation of the uptrend.
Key Technical Insights:
🔹 Triangle Formation Breakout
Gold price has been consolidating inside a symmetrical triangle, a common pattern before a breakout.
The price has just broken above the resistance, confirming a potential bullish move.
🔹 Support & Resistance Levels:
Support: Around 2,933 - 2,935 USD, acting as a retest zone after the breakout.
Resistance: Near 2,946 - 2,950 USD, the last hurdle before the next rally.
🔹 Target Projection:
Based on the triangle breakout measurement, a potential 3.75% move (110 USD) to around 3,044 USD is anticipated.
Trade Plan:
📌 Entry Strategy:
A retest of 2,935 USD could provide a better entry for confirmation.
Aggressive traders may enter immediately after breakout confirmation.
📌 Stop Loss:
Below 2,914 USD, invalidating the breakout structure.
📌 Take Profit Target:
Around 3,044 USD, aligning with the measured breakout target.
Final Thoughts:
✅ Breakout confirmed – waiting for retest to enter safely.
✅ Momentum and volume support bullish continuation.
✅ Caution if price falls below 2,914 USD, invalidating the pattern.
📈 Gold remains in an uptrend – monitor price action for confirmation! 🚀
Related publications
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.
Related publications
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.