Gold Breaches Trendline: Bullish Continuation Expected
Gold's breach of the trendline indicates potential for higher prices. Here's an actionable breakdown:
---
Current Trend Overview
Breakout Confirmed:
The 4-hour candle closing above the trendline confirms a bullish breakout.
This signals buyers are in control, and higher levels are now anticipated.
---
Targets to Watch
1. First Target: 2760
Why? Likely a nearby resistance or minor psychological level.
May face slight consolidation or profit-taking here.
2. Second Target: 2790
Why? Represents a stronger resistance or Fibonacci extension area.
Likely to test this level if bullish momentum sustains.
3. Extended Targets (Optional):
Beyond 2790, watch 2810 and 2850 as potential zones, depending on strength.
Stop-Loss Placement
1. Below Trendline:
Conservative traders should place stops just below the broken trendline.
2. Swing Low:
Alternatively, set it below the most recent swing low to allow for volatility.
3. ATR-Based Stop:
Use the Average True Range (ATR) for dynamic stop placement, e.g., 1.5x ATR below the breakout level.
---
Risk-Reward Example
Entry: Around breakout level (post-close above trendline).
Stop-Loss: 20-30 points below breakout point or recent swing low.
Targets:
TP1: 2760
TP2: 2790
Risk-Reward Ratio: Maintain at least 1:2 or 1:3.
GOLD
Gold's breach of the trendline indicates potential for higher prices. Here's an actionable breakdown:
---
Current Trend Overview
Breakout Confirmed:
The 4-hour candle closing above the trendline confirms a bullish breakout.
This signals buyers are in control, and higher levels are now anticipated.
---
Targets to Watch
1. First Target: 2760
Why? Likely a nearby resistance or minor psychological level.
May face slight consolidation or profit-taking here.
2. Second Target: 2790
Why? Represents a stronger resistance or Fibonacci extension area.
Likely to test this level if bullish momentum sustains.
3. Extended Targets (Optional):
Beyond 2790, watch 2810 and 2850 as potential zones, depending on strength.
Stop-Loss Placement
1. Below Trendline:
Conservative traders should place stops just below the broken trendline.
2. Swing Low:
Alternatively, set it below the most recent swing low to allow for volatility.
3. ATR-Based Stop:
Use the Average True Range (ATR) for dynamic stop placement, e.g., 1.5x ATR below the breakout level.
---
Risk-Reward Example
Entry: Around breakout level (post-close above trendline).
Stop-Loss: 20-30 points below breakout point or recent swing low.
Targets:
TP1: 2760
TP2: 2790
Risk-Reward Ratio: Maintain at least 1:2 or 1:3.
GOLD 
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Disclaimer
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👉JOIN MY TELEGRAM:
Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
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Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.