XAUUSD Rising Channel Signals Potential Breakout at 4,900$

7 days ago

Hello traders! Here’s my technical outlook based on the current XAUUSD (3H) chart structure. Price previously moved inside a descending channel, forming lower highs and confirming bearish pressure. After a breakdown, gold found strong support near the buyer zone, where a sharp reaction formed and initiated a recovery phase.From this level, price shifted into an ascending channel, forming higher lows and showing building bullish momentum. Currently, price is approaching the 4,900 resistance (seller zone) while holding above support and respecting the ascending structure. This creates a continuation setup within the bullish channel. As long as XAUUSD holds above the 4,720 support and respects the ascending channel, the bullish bias remains valid. A breakout above 4,900 resistance could trigger continuation toward higher levels (TP1). Please share this idea with your friends and click Boost 🚀

6 days ago

Trade active

So far, the correction has occurred as we analyzed. Next, I expect a return to the upward movement at the top of the support line of the ascending channel and the main one. This is a strong zone for this reaction.

5 days ago

Note

Now we can see that the price is consolidating. In my opinion, at the intersection of the two support lines, we will be able to see a move!

2 days ago

Order cancelled

At the moment we see a decline, so the scenario is canceled. A symmetrical triangle is forming and we need to analyze the situation again!