#GOLD'S BULLISH PATTERN: TIME TO BUY?!
👉GOLD is currently oscillating within an ascending triangle pattern on a daily timeframe.
🔰The most recent bullish move from the triangle's bottom has formed an bullish channel on the 4-hour timeframe.As long as it remains within this bullish channel, any drops will be temporary, and the overall trend will continue upwards.
🔰The channel's key levels, specifically the mid-line and lower boundary, serve as primary support levels to halt any decline and initiate a new bullish movement.
🔰Consequently, on these two dynamic support levels within timeframes shorter than 1 hour, we should look for bottom formation structures.
🎯Subsequent bullish targets:
Target 1: 2475.216-2477.725
Target 2: 2512.650-2514.650
Target 3: 2581.750
❌The stop-loss for our bullish scenario is a breakout below the 2418.150 support level on the 4-hour timeframe.
If this occurs, the GOLD's trend will shift from bullish to bearish.
🔄In such an event, I will update the analysis.
🔰The most recent bullish move from the triangle's bottom has formed an bullish channel on the 4-hour timeframe.As long as it remains within this bullish channel, any drops will be temporary, and the overall trend will continue upwards.
🔰The channel's key levels, specifically the mid-line and lower boundary, serve as primary support levels to halt any decline and initiate a new bullish movement.
🔰Consequently, on these two dynamic support levels within timeframes shorter than 1 hour, we should look for bottom formation structures.
🎯Subsequent bullish targets:
Target 1: 2475.216-2477.725
Target 2: 2512.650-2514.650
Target 3: 2581.750
❌The stop-loss for our bullish scenario is a breakout below the 2418.150 support level on the 4-hour timeframe.
If this occurs, the GOLD's trend will shift from bullish to bearish.
🔄In such an event, I will update the analysis.
Note
🔄#GOLD analysis update - August 16
⏳Based on the 4H time-frame:
🚀#GOLD exactly started its rally from the support level 1 and touched target 1 (2477.725)🎯
✅This analysis (continued growth) remains valid until I provide a new update🔄⏳
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