XAUUSD - Gold H1 analysis and possible move! 2861!Gold is currently forming a symmetrical triangle pattern, indicating potential breakout opportunities. The price is near $2,915, trading between key support and resistance levels.
Key Levels:
🔹 Resistance Zone: $2,940 - $2,950
Price has rejected this level multiple times.
A breakout above this area could trigger a bullish move.
🔹 Support Trendline: $2,880 - $2,900
A key rising trendline providing support.
A break below could lead to a bearish move.
🔹 Major Support Zone: $2,861 - $2,865
If price reaches this level, buyers may step in.
A confirmed break below could accelerate selling pressure.
Potential Scenarios:
📉 Bearish Breakdown (Main Outlook):
1️⃣ Price consolidates within the triangle.
2️⃣ A break below the support trendline signals further downside.
3️⃣ Target: $2,861 - $2,865 support zone.
4️⃣ If this level breaks, expect a deeper drop.
📈 Bullish Breakout Alternative:
If price breaks and holds above $2,940, expect bullish momentum.
Next Target: $2,960 - $2,970.
Trading Plan for Traders:
✅ Wait for a clear breakout before entering trades.
✅ Short below trendline support, targeting $2,861.
✅ Long above $2,940 with confirmation.
✅ Use stop-loss to manage risk effectively.
