Gold (XAU/USD) 4H Chart Analysis:
Trend: Uptrend inside an ascending channel.
Current Price: Near resistance at the top of the channel.
Possible Move: If price rejects resistance, it may drop toward the lower trendline.
Trade Idea:
Sell if rejection happens at resistance.
Target: Lower boundary of the channel.
Stop-loss: Above recent highs.
If price breaks above resistance, the uptrend may continue.
Trend: Uptrend inside an ascending channel.
Current Price: Near resistance at the top of the channel.
Possible Move: If price rejects resistance, it may drop toward the lower trendline.
Trade Idea:
Sell if rejection happens at resistance.
Target: Lower boundary of the channel.
Stop-loss: Above recent highs.
If price breaks above resistance, the uptrend may continue.
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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.