Gold (XAU/USD) Price Analysis: Bearish Flag or Bullish Breakout?
This chart represents the Gold Spot (XAU/USD) on a 1-hour timeframe
market 2903 to 2920 target
Analysis:
Trend Overview:
The price recently formed a strong uptrend, reaching a peak before pulling back.
A bearish flag pattern is identified, which typically signals a potential continuation to the downside.
However, the current retracement structure suggests a possible bullish move.
Price Action & Patterns:
The price made a higher high, followed by a pullback.
A bullish correction is in play, with a potential breakout towards $2,920+ if resistance breaks.
The support level near $2,893 holds importance for trend continuation.
Trade Setup:
Entry Zone: Around the $2,904-$2,905 region.
Stop-Loss: Below $2,872, aligning with the bearish flag breakdown.
Take-Profit Target: Near $2,920, where a previous rejection occurred.
Indicators & Confirmation:
If price holds above the support at $2,893, it could push higher.
A breakdown below $2,872 may confirm bearish momentum.
market 2903 to 2920 target
Analysis:
Trend Overview:
The price recently formed a strong uptrend, reaching a peak before pulling back.
A bearish flag pattern is identified, which typically signals a potential continuation to the downside.
However, the current retracement structure suggests a possible bullish move.
Price Action & Patterns:
The price made a higher high, followed by a pullback.
A bullish correction is in play, with a potential breakout towards $2,920+ if resistance breaks.
The support level near $2,893 holds importance for trend continuation.
Trade Setup:
Entry Zone: Around the $2,904-$2,905 region.
Stop-Loss: Below $2,872, aligning with the bearish flag breakdown.
Take-Profit Target: Near $2,920, where a previous rejection occurred.
Indicators & Confirmation:
If price holds above the support at $2,893, it could push higher.
A breakdown below $2,872 may confirm bearish momentum.
Trade chiuso: stop raggiunto
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.