Gold (XAUUSD) is currently coiling within a symmetrical triangle on the 1H timeframe, indicating that a high-probability breakout or breakdown is imminent. Price is consolidating after a strong bullish trend, but volatility is compressing—typically a precursor to explosive movement.
📊 Technical Analysis
1. Symmetrical Triangle Formation
Price has been tightening within a symmetrical triangle, marked by lower highs and higher lows.
These patterns typically resolve in the direction of the preceding trend—but can also serve as reversal zones, especially at key highs.
2. Dual Scenarios Mapped Out
Bullish Breakout: If price breaks above the triangle, bulls may push toward the psychological resistance and Fibonacci extension target near 3,101.642, continuing the trend.
Bearish Breakdown: A rejection at triangle resistance and clean break below the support line could send gold down to the demand zone around 2,929, a 2.6% potential move, aligning with previous structure support.
3. Key Support Zone
The highlighted yellow block shows a strong demand zone, previously respected during a mid-March consolidation.
Price could seek this level if the triangle resolves to the downside.
🧠 Trade Setup Ideas
Bullish Bias: Break and hold above 3,020, potential long entry with TP around 3,101
Bearish Bias: Breakdown and close below 3,000, targeting the 2,930–2,915 zone
Invalidation Levels: Above 3,035 for bearish, below 2,995 for bullish
📊 Technical Analysis
1. Symmetrical Triangle Formation
Price has been tightening within a symmetrical triangle, marked by lower highs and higher lows.
These patterns typically resolve in the direction of the preceding trend—but can also serve as reversal zones, especially at key highs.
2. Dual Scenarios Mapped Out
Bullish Breakout: If price breaks above the triangle, bulls may push toward the psychological resistance and Fibonacci extension target near 3,101.642, continuing the trend.
Bearish Breakdown: A rejection at triangle resistance and clean break below the support line could send gold down to the demand zone around 2,929, a 2.6% potential move, aligning with previous structure support.
3. Key Support Zone
The highlighted yellow block shows a strong demand zone, previously respected during a mid-March consolidation.
Price could seek this level if the triangle resolves to the downside.
🧠 Trade Setup Ideas
Bullish Bias: Break and hold above 3,020, potential long entry with TP around 3,101
Bearish Bias: Breakdown and close below 3,000, targeting the 2,930–2,915 zone
Invalidation Levels: Above 3,035 for bearish, below 2,995 for bullish
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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.
Related publications
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.