As you see in the 4H chart, price has made a symmetrical triangle pattern and is moving inside the pattern right now.
Since the symmetrical triangles can be broken out to both directions, we should wait for the price to see to which direction it will break the pattern.
After the triangle’s breakout, wait for the breakout and candle closure on the last major high or low to be more confident about the validation of the breakout.
If price breaks the triangle to the upside, wait for the red resistance level at 1945 to broken, then we can expect a rise to 1974.
On the other side, if price breaks the triangle to the downside, wait for the yellow support zone around 1918 to be broken too, then we can expect a drop on XAUUSD.
Target Hit! Nice. Mahtab You are getting better and better everyday with your analysis. Cheers
AtlasTrades
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I agree with your opinion, XAU/USD can go much higher in my opinion
KlejdiCuni
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I really like the triangle at the top. As long as the situation it is not clear at all GOLD will be very strong.
turolin
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@Mahtab_Tradia you are magnificent. Perfect TA again! :-* Let's see how gold will react again at the level of 1974$ Check if you want VALE and RIO. For me they are new EU suppliers ;-)
Zenoh
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great charting im more bullish on this one
Abdullaahihassan
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@Zenoh i agree with u but keep watching news and dxy thnks