The chart shows a bullish outlook for XAU/USD (Gold vs US Dollar) on the 4-hour timeframe, with the following key insights:
Analysis Breakdown:
🔶 Support/Resistance Zone:
A strong horizontal resistance zone (marked in orange) around the $3,350–$3,360 level is being tested.
Price has recently broken above this resistance, which is now expected to act as support (a key sign of potential bullish continuation).
📈 Channel Pattern:
Prior to the breakout, gold was moving inside an ascending channel.
Although price dipped below the lower channel boundary recently, the swift recovery and breakout above resistance signals bullish momentum.
☁️ Ichimoku Cloud:
The price is emerging above the Ichimoku cloud, another bullish signal suggesting trend reversal or continuation upwards.
🎯 Target Point:
The projected target point is around the $3,440–$3,460 area, as marked on the chart.
This suggests a potential move of approximately $90–$110 from the current price.
Key Confirmation Levels to Watch:
Hold above $3,350–$3,360: If price sustains above this zone, it strengthens the bullish case.
Retest & bounce: A pullback into the orange zone followed by bullish rejection would be a classic entry signal for continuation trades.
Analysis Breakdown:
🔶 Support/Resistance Zone:
A strong horizontal resistance zone (marked in orange) around the $3,350–$3,360 level is being tested.
Price has recently broken above this resistance, which is now expected to act as support (a key sign of potential bullish continuation).
📈 Channel Pattern:
Prior to the breakout, gold was moving inside an ascending channel.
Although price dipped below the lower channel boundary recently, the swift recovery and breakout above resistance signals bullish momentum.
☁️ Ichimoku Cloud:
The price is emerging above the Ichimoku cloud, another bullish signal suggesting trend reversal or continuation upwards.
🎯 Target Point:
The projected target point is around the $3,440–$3,460 area, as marked on the chart.
This suggests a potential move of approximately $90–$110 from the current price.
Key Confirmation Levels to Watch:
Hold above $3,350–$3,360: If price sustains above this zone, it strengthens the bullish case.
Retest & bounce: A pullback into the orange zone followed by bullish rejection would be a classic entry signal for continuation trades.
Trade active
target 260 pips done
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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.
Join telegram free...
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
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.