This chart shows a potential bullish reversal setup on Gold (XAUUSD), on the 1-hour timeframe. Here's a quick breakdown of what it's showing:
Entry Level: Around 3,328 USD.
Take Profit: Around 3,400 USD — this aligns with a resistance zone.
Stop Loss: Just below 3,260 USD — under the last swing low.
Setup Type: The price formed a possible inverse head and shoulders pattern, indicating a potential reversal from the recent down
Entry Level: Around 3,328 USD.
Take Profit: Around 3,400 USD — this aligns with a resistance zone.
Stop Loss: Just below 3,260 USD — under the last swing low.
Setup Type: The price formed a possible inverse head and shoulders pattern, indicating a potential reversal from the recent down
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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.