Hello, traders! Today we are back with an exciting analysis — this time on Gold (XAUUSD), which is setting up for a potential bullish breakout. Let’s take a closer look at what the charts are revealing and how we plan to trade it.
🥇Gold (XAUUSD) Aims for New Highs – Ascending Triangle Breakout in Play! 📈
Gold has recently formed an ascending triangle pattern, a reliable continuation pattern that often signals bullish momentum. On the daily timeframe, price has approached the upper resistance boundary, which aligns closely with previous fractal highs around $3,430. The price has now slightly broken above the nearest fractal, suggesting buying pressure is intensifying.
More importantly, the asset continues to respect a solid rising trendline, providing strong dynamic support. This steady higher low structure indicates that buyers are gradually taking control. If the price successfully retests the breakout zone and holds above it, we could be on track to challenge the next major psychological and technical resistance at $3,500 — a potential all-time high (ATH).
🧠 Gold Technical Breakdown:
- Pattern: Ascending Triangle – Bullish
- Support: Rising Trendline
- Resistance Zone: $3,430–$3,450 (fractals & horizontal supply)
- Momentum: Bullish price action, confirming strength above structure
💼 Gold TradeIdea – Buy Setup
🔼 Buy XAUUSD only if price holds above $3,430
🎯 Target Profit: $3,500
🛑 Stop Loss suggestion: Below trendline, approx. $3,380–$3,390 depending on risk appetite
💬 Final Thoughts:
Gold continues to shine amid global inflation concerns and central bank uncertainty. With this clean breakout from the triangle pattern, the path toward $3,500 looks achievable — especially if buyers step in on the retest.
📊 This setup offers a great risk-to-reward ratio for breakout traders. Stay patient, wait for confirmation, and plan your entry wisely!
Share your Thoughts in the comments about this Analysis.
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