XAUUSD Head and Shoulders Pattern – Potential Bullish Breakout!
Gold (XAUUSD) has formed a Head and Shoulders pattern on the 4H timeframe, signaling a potential bullish breakout.
Key Levels & Observations:
🔹 Neckline Support: $2,900 - $2,880 (Key demand zone)
🔹 Breakout Resistance: $2,920 - $2,940
🔹 Confirmation: A breakout above $2,940 could trigger a rally towards $2,970 - $3,000.
🔹 Invalidation: If price breaks below $2,880, a bearish move towards $2,780 is possible.
Trade Plan:
📌 Entry: Above $2,920 with confirmation
📉 Stop-Loss: Below $2,880
🎯 Target 1: $2,970
🎯 Target 2: $3,000
📊 Conclusion:
Gold is at a crucial decision point. A successful breakout could drive prices higher, while rejection may lead to a pullback. Stay cautious and manage risk accordingly! 🚀
Gold (XAUUSD) has formed a Head and Shoulders pattern on the 4H timeframe, signaling a potential bullish breakout.
Key Levels & Observations:
🔹 Neckline Support: $2,900 - $2,880 (Key demand zone)
🔹 Breakout Resistance: $2,920 - $2,940
🔹 Confirmation: A breakout above $2,940 could trigger a rally towards $2,970 - $3,000.
🔹 Invalidation: If price breaks below $2,880, a bearish move towards $2,780 is possible.
Trade Plan:
📌 Entry: Above $2,920 with confirmation
📉 Stop-Loss: Below $2,880
🎯 Target 1: $2,970
🎯 Target 2: $3,000
📊 Conclusion:
Gold is at a crucial decision point. A successful breakout could drive prices higher, while rejection may lead to a pullback. Stay cautious and manage risk accordingly! 🚀
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.
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.