Technical Analysis of Gold, Bullish Symmetrical Triangle Insight
Pattern: I highlighted a "Bullish Symmetrical Triangle" pattern. This pattern is typically seen as a continuation pattern, suggesting that the price might continue to move in the direction of the trend after a period of consolidation.
Price Targets:
we could see a correction wave until 2622, if the prices didn't get down 2622 then the price will see a huge wave be up to 3100.
if the price breaks 2622 then the entire scenario will be cancelled . when we reach to 2622 all eyes will be on the political situations , any kind of wars or economic crisis will push the price the upward wave I have mentioned .
so it's like this:
Upward Target: I identified a potential target of 3,100.000 USD (marked in green). This suggests a possible bullish movement if the price breaks out above the upper boundary of the triangle.
Downward Target: I also noted a potential target of 2,622.841 USD (marked in red), indicating a potential bearish movement if the price breaks below the lower boundary of the triangle.
Inset Explanation: In the bottom right corner, I included an inset explaining the "Bullish Flag" and "Bullish Symmetrical Triangle" patterns:
From my analysis, it seems like a significant move is expected in either direction, depending on which way the price breaks out from the symmetrical triangle. This is a classic example of how I use patterns to predict future price movements and make informed decisions.
Price Targets:
we could see a correction wave until 2622, if the prices didn't get down 2622 then the price will see a huge wave be up to 3100.
if the price breaks 2622 then the entire scenario will be cancelled . when we reach to 2622 all eyes will be on the political situations , any kind of wars or economic crisis will push the price the upward wave I have mentioned .
so it's like this:
Upward Target: I identified a potential target of 3,100.000 USD (marked in green). This suggests a possible bullish movement if the price breaks out above the upper boundary of the triangle.
Downward Target: I also noted a potential target of 2,622.841 USD (marked in red), indicating a potential bearish movement if the price breaks below the lower boundary of the triangle.
Inset Explanation: In the bottom right corner, I included an inset explaining the "Bullish Flag" and "Bullish Symmetrical Triangle" patterns:
From my analysis, it seems like a significant move is expected in either direction, depending on which way the price breaks out from the symmetrical triangle. This is a classic example of how I use patterns to predict future price movements and make informed decisions.
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