This chart shows a potential "triple top" pattern in the XAU/USD (Gold Spot vs. US Dollar) market on the 30-minute timeframe. Here's a quick breakdown of what's going on:
Triple Top Pattern: The three red arrows mark three peaks near the same level, signaling strong resistance around the 3,245–3,250 area.
Support Line: The purple line below the peaks indicates the support level that price has been bouncing off.
Breakdown: Price has broken below the support line, confirming the pattern.
Target/Take Profit: The green line at the bottom (around 3,200) is the expected take profit zone, which often equals the height of the pattern measured downward.
This suggests a bearish outlook in the short term, with a potential move down to around 3,200 if momentum continues.
Are you considering trading this setup or just analyzing?
Triple Top Pattern: The three red arrows mark three peaks near the same level, signaling strong resistance around the 3,245–3,250 area.
Support Line: The purple line below the peaks indicates the support level that price has been bouncing off.
Breakdown: Price has broken below the support line, confirming the pattern.
Target/Take Profit: The green line at the bottom (around 3,200) is the expected take profit zone, which often equals the height of the pattern measured downward.
This suggests a bearish outlook in the short term, with a potential move down to around 3,200 if momentum continues.
Are you considering trading this setup or just analyzing?
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Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
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Gold Signal's with proper TP & SL for high profit opportunities..
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.
📲 Join telegram channel free ..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
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.