XAUUSD has shown strong performance in the ascending channel, and I expect this trend to continue as shown in my chart, with a target price of $4,280.
The current area represents a key turning point, where prices could find support allowing them to rise, or they may break down, which could lead to a further downward movement. If I were to choose the most likely direction, I would lean towards upward price movement. However, only market action will determine whether the channel will continue or not. If the downtrend line is breached strongly, it will invalidate the bullish scenario, meaning that the bullish momentum could weaken or even reverse in the short term.
These are just my personal forecasts based on technical analysis, and they do not represent financial advice. Always make sure to verify your setups and manage risks wisely.
XAUUSD Gold is forming a contra buy scenario with good RnR. It has also developed an entry model.. The only thing, price should show rejection @4167.260. Please do follow if you liked the idea...
P.S. - This is just for educational purpose. not investment/trading advice......
XAUUSD Good to see you, nanba. Today was a strong and profitable session. As planned in our morning intraday setup, we successfully achieved nearly 85% of our target. The remaining position is currently being managed with a trailing stop-loss.
XAUUSD Good day!! Gold slipped back below 4200 and is now hovering under 4180. Once we get a proper follow-up with momentum and the daily candle flips red the bullish breakout will get invalidated ,and will confirm a reversal trapping all the buyers who chased above the 4200 zone. A clean confirmation today opens the door for a deep flush toward 4130 for day trades , and possibly more downside in the coming weeks. Trade safe.
Watch zone - Updated after Asian : 4190 Upside 4130 downside .
XAUUSD has shown strong performance in the ascending channel, and I expect this trend to continue as shown in my chart, with a target price of $4,280.
