Gold will pull back from the $2925 level, which will be a downside trigger area, to form what appears to be an ascending triangle pattern. Since reaching this peak since the beginning of the year, XAUUSD will claim the demand zone, a major demand area that has previously acted as resistance on two occasions. On the upside, such pullbacks often provide buying opportunities as previous resistance levels turn into support..
Gold may regain momentum and resume its primary uptrend, from the existing support (2787). However, a drop below this level may invalidate this expectation, which may open the door for more downside pressures.
It appears to be a strong and overwhelming bullish move by gold, so we can think of the chart slope angle, when there is an overwhelming bullish angle, there is a confirmed downside behind it, within the thinking of (the chart slope angle), to claim the major demand area of $2772..
Representing the following events in building the ascending triangle
The price will work in favor of the dollar as a correction, then there will be greater dynamism in qualifying the rise.
But now
The price is in a waiting area for a qualifying area to fall, with extreme caution against a possible price slide below the main demand area, now what we know is that gold continues to rise (and as they say; whoever sells gold is crazy),
Now from the start of the search in the field of good opportunities!!!
, we will look to the future to build the upward trend, trying to seize the maximum opportunities, starting from the price renewal for it, from the formation (a process of falling and then changing the direction to rising)
Recommendations in the signal :
Entry price: 2907♻️
TP 1. 2887✅
TP 2. 2867✅
TP. 3. 2837✅
SL 2937 📛
Gold may regain momentum and resume its primary uptrend, from the existing support (2787). However, a drop below this level may invalidate this expectation, which may open the door for more downside pressures.
It appears to be a strong and overwhelming bullish move by gold, so we can think of the chart slope angle, when there is an overwhelming bullish angle, there is a confirmed downside behind it, within the thinking of (the chart slope angle), to claim the major demand area of $2772..
Representing the following events in building the ascending triangle
The price will work in favor of the dollar as a correction, then there will be greater dynamism in qualifying the rise.
But now
The price is in a waiting area for a qualifying area to fall, with extreme caution against a possible price slide below the main demand area, now what we know is that gold continues to rise (and as they say; whoever sells gold is crazy),
Now from the start of the search in the field of good opportunities!!!
, we will look to the future to build the upward trend, trying to seize the maximum opportunities, starting from the price renewal for it, from the formation (a process of falling and then changing the direction to rising)
Recommendations in the signal :
Entry price: 2907♻️
TP 1. 2887✅
TP 2. 2867✅
TP. 3. 2837✅
SL 2937 📛
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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.
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.