XAU/USD Analysis h4

6 日前

Hello Guy's this is My OverView For XAU/USD, Feel Free To Check It And Write Your Feedback In Comments
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Ascending Channel:
The primary feature of this chart is the ascending channel, marked by two parallel trendlines sloping upwards. This indicates a general uptrend in gold prices within this period.
Price action has respected both the upper and lower bounds of this channel consistently, showcasing typical characteristics of an ascending channel.
Price Movements:
Within the ascending channel, there have been several cyclical movements where prices moved from lower to upper boundaries and vice versa.

These movements are encapsulated within smaller upward-sloping wedges or flags highlighted with red circles.
Key Support and Resistance Levels:
There is a prominent horizontal blue line drawn above current price levels around 2,754.662 USD representing potential resistance or target level for future price movement.
Another significant level is at around 2,666 USD which seems to have acted as interim support/resistance during recent fluctuations.

Technical Patterns:
At least three bullish waves are noticeable where prices touched or neared the lower boundary before rallying towards the higher end of the channel; these points are circled in red for emphasis.
Potential Breakout:
The latest move sees price close to breaking above previous highs near resistance line (blue horizontal), indicating potential continued bullish momentum if it breaches decisively beyond these levels.
Trend Continuation Expectation:
If trends persist along with volumes indicating support at higher levels coupled with favorable market conditions such as weaker USD or geopolitical tensions boosting gold demand; continuation

Note: This analysis is for educational purposes and not trading advice. Consider market conditions and strategies.

5 日前

トレード稼働中

3 日前

トレード終了: 利益確定目標に到達

trade close at 2698

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I thing Gold will go more up till 2720 as i Publish new idea with details