Hello traders! Here’s my technical outlook based on the current XAUUSD (1H) chart structure. Gold previously moved inside a descending channel. After a breakout from the channel, price formed a consolidation range, signaling accumulation.
Currently, price is holding above the 4,620 demand zone after a breakout from the range, showing early signs of bullish momentum. The market is now approaching the 4,800 supply zone, which acts as a key resistance level.
As long as XAUUSD holds above the 4,620 support and maintains the breakout structure, the bullish bias remains valid. A move higher could target the 4,800 resistance. Manage your risk!
Currently, price is holding above the 4,620 demand zone after a breakout from the range, showing early signs of bullish momentum. The market is now approaching the 4,800 supply zone, which acts as a key resistance level.
As long as XAUUSD holds above the 4,620 support and maintains the breakout structure, the bullish bias remains valid. A move higher could target the 4,800 resistance. Manage your risk!
Trade closed: target reached
The gold trend line worked very clearly. The price just touched it and we immediately got the strong reaction we were expecting. So congratulations to everyone!
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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.
🔶 Free telegram channel👉 t.me/heniitrading
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
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.