The chart you uploaded shows the price movement of gold (XAUUSD) against the US dollar on the 1-hour timeframe, as displayed on TradingView.
Key observations:
1. Uptrend Channel: The first green rectangle highlights a rising channel, indicating an upward trend in the gold price.
2. Consolidation Phase: The second green rectangle shows a period of sideways movement after the initial uptrend.
3. Breakdown and Recovery: The price broke below a key support level (around 3,333.554) and moved down to approximately 3,307.690, indicating a bearish move.
4. Projected Recovery: The chart shows a potential bullish recovery, aiming for a target of around 3,360.
The chart suggests that after the breakdown, the price is expected to recover towards the target level. The projection seems to indicate a rebound from the current low.
Would you like insights on trading strategies for this setup?
Key observations:
1. Uptrend Channel: The first green rectangle highlights a rising channel, indicating an upward trend in the gold price.
2. Consolidation Phase: The second green rectangle shows a period of sideways movement after the initial uptrend.
3. Breakdown and Recovery: The price broke below a key support level (around 3,333.554) and moved down to approximately 3,307.690, indicating a bearish move.
4. Projected Recovery: The chart shows a potential bullish recovery, aiming for a target of around 3,360.
The chart suggests that after the breakdown, the price is expected to recover towards the target level. The projection seems to indicate a rebound from the current low.
Would you like insights on trading strategies for this setup?
XAUUSD GOLD + BTCUSD Daily 5-6 Free Signals📊🚀
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✅GOLD
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✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+QC9FeJZu3mthYTRk
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.
XAUUSD GOLD + BTCUSD Daily 5-6 Free Signals📊🚀
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+QC9FeJZu3mthYTRk
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+QC9FeJZu3mthYTRk
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.