Target successful hit market reached 2890

This chart is a price analysis of Gold (CFDs on Gold, US/OZ) on a 1-hour timeframe, as seen on TradingView. Here’s what it suggests:

1. Uptrend: The blue diagonal line represents an upward trend, indicating that the price of gold has been increasing over time.


2. Support and Resistance:

The pink zone at around 2,860 indicates a support level, meaning that price has bounced from this area multiple times.

The horizontal red dotted line around 2,888 represents a resistance level, where the price has reached and is expected to struggle to break above.



3. Price Action:

The price has reached the target win area (marked with 🔥), meaning the prediction was correct.

The blue and black arrows show potential price movements: a short-term pullback before continuing the uptrend.



4. Trading Strategy:

If the price retraces and finds support on the trendline (blue line), it might continue upward.

If it breaks below the trendline, a reversal or deeper pullback might happen.




This chart is likely used for short-term trading decisions, indicating a bullish sentiment on gold. Let me know if you need a deeper breakdown!