The market context on XAUUSD is still clearly bullish. The latest movement has shown a stable recovery, pushing towards the expected channel top. But let's pay attention to what happens at this price level.
The price tested it once... and then bounced down.
It’s coming back...
And now, for the third time, we’re waiting for buyers to defend this level again...
This looks a lot like a Cup and Handle pattern, a strong signal that buyers are building significant bullish momentum.
Now, let’s break it down: The real confirmation comes when the price breaks through the neckline, the resistance level connecting the peaks.
That breakout tells us the change is real! Strong and clear.
And right now, the market is consolidating.
This is the Cup and Handle pattern: a continuation pattern signaling an uptrend. When the price breaks out of the handle, it’s the confirmation that buyers are back, and the new bullish trend is starting.
The price tested it once... and then bounced down.
It’s coming back...
And now, for the third time, we’re waiting for buyers to defend this level again...
This looks a lot like a Cup and Handle pattern, a strong signal that buyers are building significant bullish momentum.
Now, let’s break it down: The real confirmation comes when the price breaks through the neckline, the resistance level connecting the peaks.
That breakout tells us the change is real! Strong and clear.
And right now, the market is consolidating.
This is the Cup and Handle pattern: a continuation pattern signaling an uptrend. When the price breaks out of the handle, it’s the confirmation that buyers are back, and the new bullish trend is starting.
Trade active
Trade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.