🔍 Bullish Confirmation Checklist:
✅ Cup & Handle Formation – Textbook structure with bullish momentum.
✅ Higher Lows (Price Action) – Sign of accumulation beneath resistance.
✅ No Bearish Divergence on RSI (15m/1H) – Momentum confirms move.
✅ Breakout Candle with Follow-through Needed – Awaiting 1H closing above $3349 for strong confirmation.
✅ Target Projection Logic:
Using Cup & Handle breakout range logic:
Cup depth ≈ $40 →
Projected Move = $3349 + $40 = $3389–$3400+
🛠️ Trading Outlook (for education):
Aggressive Entry: On breakout above $3349 with volume confirmation.
Safer Entry: Retest near $3341–$3344 zone with bullish candle.
Stoploss: Below $3333.36
Targets: $3375 > $3394 > $3404 > $3418 (Step-by-step)
🔔 Conclusion:
Gold is showing textbook bullish continuation with a Cup and Handle pattern triggering breakout above $3341–$3349 zone. Momentum is building, and bulls are eyeing higher Fibonacci cluster zones near $3394–$3418. This structure remains valid as long as price holds above $3333.
✅ Cup & Handle Formation – Textbook structure with bullish momentum.
✅ Higher Lows (Price Action) – Sign of accumulation beneath resistance.
✅ No Bearish Divergence on RSI (15m/1H) – Momentum confirms move.
✅ Breakout Candle with Follow-through Needed – Awaiting 1H closing above $3349 for strong confirmation.
✅ Target Projection Logic:
Using Cup & Handle breakout range logic:
Cup depth ≈ $40 →
Projected Move = $3349 + $40 = $3389–$3400+
🛠️ Trading Outlook (for education):
Aggressive Entry: On breakout above $3349 with volume confirmation.
Safer Entry: Retest near $3341–$3344 zone with bullish candle.
Stoploss: Below $3333.36
Targets: $3375 > $3394 > $3404 > $3418 (Step-by-step)
🔔 Conclusion:
Gold is showing textbook bullish continuation with a Cup and Handle pattern triggering breakout above $3341–$3349 zone. Momentum is building, and bulls are eyeing higher Fibonacci cluster zones near $3394–$3418. This structure remains valid as long as price holds above $3333.
Trade closed: target reached
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.