Gold (XAUUSD) Analysis – H4 Timeframe
Gold appears to be in a climactic phase following a Final Flag formation on the H4 timeframe. Based on this perspective, there is a high probability that this pattern will soon break to the downside.
Gold – H4 Analysis
🔹 It appears that gold is forming a contracting triangle on the 4-hour timeframe.
🔹 Bearish outlook remains valid, with the possibility of price reaching around $2900.
📍 Invalidating Level: ATH
🔸 If the upper boundary of the triangle is broken and ATH is surpassed, this bearish scenario will be invalidated.
Last Friday, gold moved exactly as expected, reacting beautifully to the marked zones and following the analysis line. Additionally, the 4-hour curved channel was broken.
🔹 For this week, we still have a Sell outlook from these areas.
⚠️ However, due to the presence of equal highs on the 4-hour timeframe, the probability of this analysis playing out is slightly...
In the previous analysis, we anticipated a bullish move from the identified zones, and the price surged approximately 300 pips, reaching near the ATH. However, the upward movement was slower than expected.
Although the possibility of a further rise toward the 3000 level and the upper boundary of the curved channel still exists, this scenario has significantly...
Price usually moves within a channel, but in many cases, this channel is not a traditional straight-line channel; instead, it follows a curved structure.
Considering the recent bullish move and the fact that the ascending channel remains intact, the price will likely experience another upward wave, at least toward the previous ATH.
