The ⚠️XAUUSD pair has formed a descending triangle pattern on the 4-hour chart and is currently testing the neckline. Here are two important scenario to watch.
📉If the price breaks and closes below this level, it could signal a strong bearish trend, potentially pushing prices down to at least the 2140 level.
📈On the other hand, if there is a bearish violation and a 4-hour candle closes above the resistance line of the triangle, this could indicate a strong bullish trend. The market may then rise all the way up to the 2180 level.
It is advisable to wait for a breakout before making any trading decisions, as this will provide a strong confirmation of the direction of the market.
📉If the price breaks and closes below this level, it could signal a strong bearish trend, potentially pushing prices down to at least the 2140 level.
📈On the other hand, if there is a bearish violation and a 4-hour candle closes above the resistance line of the triangle, this could indicate a strong bullish trend. The market may then rise all the way up to the 2180 level.
It is advisable to wait for a breakout before making any trading decisions, as this will provide a strong confirmation of the direction of the market.
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For paid signal👇👇 t.me/linofx1999