#GOLD ⟶ BEARISH CHANNEL BROKEN: SET FOR GROWTH!
#Gold Analysis Summary
Time-frame: 4 hours
The recent gradual dip can be framed within a bearish channel on the 4-hour time-frame.
Following the recent growth, #GOLD has managed to break this channel to the upside, increasing the likelihood of further growth 📈.
In addition to breaking the bearish channel to the upside, #GOLD is currently positioned above its weekly support level (2641.015). Upon hitting this support, we witnessed a rise 🟢.
As long as #GOLD remains above the 2641.015 support on the 4-hour time frame, growth toward Targets 1 to 4 (as per the previous analysis) is expected 🎯.
However, if contrary to our expectation, the 2641.015 support is broken downward before hitting the targets, we could see a temporary dip 🔻.
This dip is likely to be halted at one of the support zones: 2620.555 or 2583.930-2597.415, after which we expect #GOLD to enter a bullish phase toward the targets 🚀.
Pay special attention to the overall stop-loss for the bullish scenario (closing below 2597.415 on the daily time-frame) ⚠️.
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#GOLD Analysis Summary
Time-frame: 1 hour
In the 4-hour time-frame analysis, we mentioned that as long as #GOLD remains above the 2641.015 support, there is a strong chance of growth (without a temporary dip) 📈.
Right above the 2641.015 support, in the lower 15-minute time-frame, there is a possibility of forming a continuation pattern, the expanding triangle.
For growth based on this triangle, the condition is breaking the last dip’s resistance within the triangle. The resistance of the last dip is the top of the bearish channel drawn in the 1-hour time-frame.
For a valid breakout, three consecutive candles need to close above the channel's top in the 1-hour time-frame (which has happened) ✅.
With this confirmation (breakout above the 1-hour channel), #GOLD could start growing from this point. However, keep in mind that before the growth, there’s a chance it may retest the lower bound of the triangle, corresponding to the support range of 2639.027-2641.015, before moving upward again 📊.
Don’t forget, the stop-loss for this growth scenario, based on the triangle structure, is a break of the weekly #GOLD support (2641.015) in the 4-hour time-frame ⚠️.
Time-frame: 4 hours
The recent gradual dip can be framed within a bearish channel on the 4-hour time-frame.
Following the recent growth, #GOLD has managed to break this channel to the upside, increasing the likelihood of further growth 📈.
In addition to breaking the bearish channel to the upside, #GOLD is currently positioned above its weekly support level (2641.015). Upon hitting this support, we witnessed a rise 🟢.
As long as #GOLD remains above the 2641.015 support on the 4-hour time frame, growth toward Targets 1 to 4 (as per the previous analysis) is expected 🎯.
However, if contrary to our expectation, the 2641.015 support is broken downward before hitting the targets, we could see a temporary dip 🔻.
This dip is likely to be halted at one of the support zones: 2620.555 or 2583.930-2597.415, after which we expect #GOLD to enter a bullish phase toward the targets 🚀.
Pay special attention to the overall stop-loss for the bullish scenario (closing below 2597.415 on the daily time-frame) ⚠️.
......................
#GOLD Analysis Summary
Time-frame: 1 hour
In the 4-hour time-frame analysis, we mentioned that as long as #GOLD remains above the 2641.015 support, there is a strong chance of growth (without a temporary dip) 📈.
Right above the 2641.015 support, in the lower 15-minute time-frame, there is a possibility of forming a continuation pattern, the expanding triangle.
For growth based on this triangle, the condition is breaking the last dip’s resistance within the triangle. The resistance of the last dip is the top of the bearish channel drawn in the 1-hour time-frame.
For a valid breakout, three consecutive candles need to close above the channel's top in the 1-hour time-frame (which has happened) ✅.
With this confirmation (breakout above the 1-hour channel), #GOLD could start growing from this point. However, keep in mind that before the growth, there’s a chance it may retest the lower bound of the triangle, corresponding to the support range of 2639.027-2641.015, before moving upward again 📊.
Don’t forget, the stop-loss for this growth scenario, based on the triangle structure, is a break of the weekly #GOLD support (2641.015) in the 4-hour time-frame ⚠️.
Nota
Target 1 has been hit! 🎯Trade chiuso: obiettivo raggiunto
"#Gold has grown to the third target! 🎯📈"
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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.