Gold (XAUUSD) is showing signs of a potential breakout from a descending triangle pattern on the 15-minute chart. The price has recently tested the upper trendline resistance but faced rejection, suggesting caution.
Key observations:
Structure: Descending triangle with multiple rejections at resistance.
Support Zone: 3,285 – 3,290 area holds historical significance.
Volume: Noticeable spike during the recent upward leg, hinting at strong participation.
Bias: Watching for a clean breakout and close above the trendline for bullish confirmation. A rejection and breakdown below the 3,285 support area may shift short-term bias.
This setup is ideal for traders monitoring breakout or reversal opportunities with defined risk management. Always confirm with your trading rules and strategy.
Key observations:
Structure: Descending triangle with multiple rejections at resistance.
Support Zone: 3,285 – 3,290 area holds historical significance.
Volume: Noticeable spike during the recent upward leg, hinting at strong participation.
Bias: Watching for a clean breakout and close above the trendline for bullish confirmation. A rejection and breakdown below the 3,285 support area may shift short-term bias.
This setup is ideal for traders monitoring breakout or reversal opportunities with defined risk management. Always confirm with your trading rules and strategy.
Trade active
let's trade active nowTrade closed: target reached
hold for 5 hours
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.