This is a 30-minute candlestick chart of Gold (XAU/USD) showing technical analysis for short-term trading. Here's a breakdown of what the chart is illustrating:
1. Falling Wedge Pattern (Bullish Reversal)
The red lines form a falling wedge, a bullish reversal pattern.
Price broke out upwards from the wedge, which is typically a buy signal.
The orange circle marks the breakout point.
2. Support and Resistance Zones
Green Zone (Upper Box ~ 3,255): Strong resistance zone, where sellers might step in.
Brown Zone (~3,192): Now acting as support, previously a resistance level.
Blue Arrow: Suggests expected upward continuation after a possible retest of the support zone.
3. Current Price Action
Gold is trading at 3,222.440, up +1.43%.
The chart suggests a bullish outlook with a potential move toward 3,255.828.
4. Trade Setup
A long (buy) trade has likely been initiated around the wedge breakout.
Target: Resistance zone at ~3,255.
Stop loss: Below the support at around ~3,172.881.
1. Falling Wedge Pattern (Bullish Reversal)
The red lines form a falling wedge, a bullish reversal pattern.
Price broke out upwards from the wedge, which is typically a buy signal.
The orange circle marks the breakout point.
2. Support and Resistance Zones
Green Zone (Upper Box ~ 3,255): Strong resistance zone, where sellers might step in.
Brown Zone (~3,192): Now acting as support, previously a resistance level.
Blue Arrow: Suggests expected upward continuation after a possible retest of the support zone.
3. Current Price Action
Gold is trading at 3,222.440, up +1.43%.
The chart suggests a bullish outlook with a potential move toward 3,255.828.
4. Trade Setup
A long (buy) trade has likely been initiated around the wedge breakout.
Target: Resistance zone at ~3,255.
Stop loss: Below the support at around ~3,172.881.
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✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+DLcFADZUck9jYmVk
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.
World Best Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+DLcFADZUck9jYmVk
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+DLcFADZUck9jYmVk
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.