This chart of XAU/USD (Gold) on the 1-hour time frame shows the price moving within an ascending channel. Here’s a quick analysis based on the chart:
1. **Trend:**
The market is in a bullish trend, confirmed by the series of higher highs and higher lows within the channel.
2. **Possible Buy Zone:**
The price is approaching the lower boundary of the ascending channel, which could act as a dynamic support level. This is highlighted as a potential buy zone, aligning with the bullish structure.
3. **Target Zone:**
If the price respects the support and moves higher, the target would likely be near the upper boundary of the channel, around the 2,700.000 level.
4. **Break of Structure (BoS):**
The highlighted BoS areas indicate that buyers are stepping in at key levels, supporting the upward trend.
5. **Volume:**
There seems to be increasing volume as the price reaches the support zone, which may indicate growing interest in the area.
**Key Points:**
- Look for bullish confirmation near the lower boundary of the channel before entering a buy position.
- Set a stop-loss slightly below the channel to manage risk.
- First target: Mid-channel or 2,690.000 zone; extended target: Near 2,700.000.
1. **Trend:**
The market is in a bullish trend, confirmed by the series of higher highs and higher lows within the channel.
2. **Possible Buy Zone:**
The price is approaching the lower boundary of the ascending channel, which could act as a dynamic support level. This is highlighted as a potential buy zone, aligning with the bullish structure.
3. **Target Zone:**
If the price respects the support and moves higher, the target would likely be near the upper boundary of the channel, around the 2,700.000 level.
4. **Break of Structure (BoS):**
The highlighted BoS areas indicate that buyers are stepping in at key levels, supporting the upward trend.
5. **Volume:**
There seems to be increasing volume as the price reaches the support zone, which may indicate growing interest in the area.
**Key Points:**
- Look for bullish confirmation near the lower boundary of the channel before entering a buy position.
- Set a stop-loss slightly below the channel to manage risk.
- First target: Mid-channel or 2,690.000 zone; extended target: Near 2,700.000.
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👉JOIN MY TELEGRAM:
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Free Signals And Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.