GOLD 1H Analysis – Breakout / Retest Trendline in Play

4 日前

GOLD 1H Analysis – Breakout / Retest Trendline in Play

Gold is currently testing the upper channel resistance, forming a rising wedge pattern similar to the previous two structures. Each time price formed this pattern, we saw a sharp breakout and a retest, followed by a clear directional move.

Now, price has reached the critical decision area again.


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🔍 Key Insights

📌 1. Rising Wedge Formation

The market has repeated the same structure three times:

Price climbs inside a tight channel

Tests the top of the wedge

Breaks out → retests → strong move


This repetition increases the probability of another structured move.


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📉 Bearish Scenario (Higher Probability)

If price fails to break above the wedge and rejects at the red arrow:

Expect a move back to the trendline

Break below the trendline will confirm bearish continuation

Targets: 4210 → 4185 → 4160


This aligns with the orange arrows on your chart.


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📈 Bullish Scenario (Lower Probability but valid)

If price breaks above the wedge cleanly:

Expect a retest

Upside movement possible

Targets: 4280 → 4300


This reflects the yellow upward arrows drawn on your chart.


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📌 Summary

Gold is at a decision point.
A breakout from this wedge will define the next move.

👉 Watch for:

A clean rejection at resistance for the sell setup

A clean breakout above the wedge for the buy continuation.

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