This 4-hour gold (XAU/USD) chart highlights a breakout from a symmetrical triangle pattern, leading to a strong bullish rally. The price has now entered a reversal zone, where a potential pullback is anticipated. The red-shaded area represents a key support level, where price action may retest before continuing its trend. The projected target for this retracement is $3,060, aligning with previous resistance-turned-support levels. Traders should monitor price behavior in the reversal zone for confirmation of a potential trend shift or continuation.
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Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
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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.