🟢 Overall Bias: BUY Projection
The chart suggests a bullish outlook, predicting that gold will rise significantly after a breakout and retest pattern.
🔍 Key Technical Elements:
Trendlines:
4H Downtrendline: This was a significant resistance trendline that has now been broken.
4H Uptrendline: Indicates a recent shift to bullish momentum.
Support & Resistance Zones:
Support S1: A solid demand zone around 3,275–3,300 USD.
Immediate Support: Zone around 3,325 USD.
Resistance R1, R2, and R3: Key resistance levels.
R1: ~3,375 USD
R2: ~3,425 USD
R3 & ATH (All-Time High): ~3,500+ USD
Breakout Confirmation:
The price broke above the 4H Downtrendline and Resistance, and then retested that area successfully, confirming it as new support (highlighted by the box labeled "BREAKER RESISTANCE RETESTED AND BROKE TRENDLINE").
Change of Character:
Marked in the zone labeled "CHANGE OF CHARACTER APPEARED HERE", indicating a shift from bearish to bullish market structure.
📈 Price Projection:
The price is projected to move upwards through multiple resistance zones, eventually targeting the 3,500 USD+ region.
Arrows indicate a bullish path with minor pullbacks, moving towards:
Resistance R1 → Resistance R2 → Resistance R3 (ATH).
🟥🟩 Risk Management:
Stop-Loss Zone (Red Area): Below 3,300 USD – in case the breakout fails and the price re-enters the downtrend.
Target Zone (Green Area): Extends to 3,500+ USD – aligning with historical highs.
The chart suggests a bullish outlook, predicting that gold will rise significantly after a breakout and retest pattern.
🔍 Key Technical Elements:
Trendlines:
4H Downtrendline: This was a significant resistance trendline that has now been broken.
4H Uptrendline: Indicates a recent shift to bullish momentum.
Support & Resistance Zones:
Support S1: A solid demand zone around 3,275–3,300 USD.
Immediate Support: Zone around 3,325 USD.
Resistance R1, R2, and R3: Key resistance levels.
R1: ~3,375 USD
R2: ~3,425 USD
R3 & ATH (All-Time High): ~3,500+ USD
Breakout Confirmation:
The price broke above the 4H Downtrendline and Resistance, and then retested that area successfully, confirming it as new support (highlighted by the box labeled "BREAKER RESISTANCE RETESTED AND BROKE TRENDLINE").
Change of Character:
Marked in the zone labeled "CHANGE OF CHARACTER APPEARED HERE", indicating a shift from bearish to bullish market structure.
📈 Price Projection:
The price is projected to move upwards through multiple resistance zones, eventually targeting the 3,500 USD+ region.
Arrows indicate a bullish path with minor pullbacks, moving towards:
Resistance R1 → Resistance R2 → Resistance R3 (ATH).
🟥🟩 Risk Management:
Stop-Loss Zone (Red Area): Below 3,300 USD – in case the breakout fails and the price re-enters the downtrend.
Target Zone (Green Area): Extends to 3,500+ USD – aligning with historical highs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.