🚨 XAU/USD Ascending Triangle Breakout Watch - 2H Chart
We're monitoring an ascending triangle on Gold, folks. Here’s what we're looking for:
✅ Entry: We need a decisive 2-hour candle close above the triangle's top trendline, currently near the $2,353 resistance level, to consider a long position.
❌ SL: Place a stop loss below the most recent higher low within the triangle, around $2,338, to protect against a false breakout or a return within the pattern.
🎯 TP 1: Our initial profit target is at $2,360, which is just above the breakout point.
🎯 TP 2: If the price keeps rallying, look towards $2,365.30 for a more optimistic take-profit level.
We've got a clear pattern with higher lows pushing against a flat top. This could signal accumulating bullish pressure. If it breaks higher, we could see a strong continuation. Just remember, wait for the breakout before jumping in
We're monitoring an ascending triangle on Gold, folks. Here’s what we're looking for:
✅ Entry: We need a decisive 2-hour candle close above the triangle's top trendline, currently near the $2,353 resistance level, to consider a long position.
❌ SL: Place a stop loss below the most recent higher low within the triangle, around $2,338, to protect against a false breakout or a return within the pattern.
🎯 TP 1: Our initial profit target is at $2,360, which is just above the breakout point.
🎯 TP 2: If the price keeps rallying, look towards $2,365.30 for a more optimistic take-profit level.
We've got a clear pattern with higher lows pushing against a flat top. This could signal accumulating bullish pressure. If it breaks higher, we could see a strong continuation. Just remember, wait for the breakout before jumping in
Sheena Lynne