sobtirubal7

sobtirubal7

On the daily chart of XAU/USD, you observed a proper retest of a trendline. A retest means that the price returned to the trendline after breaking it, confirming it as a support or resistance level. Transition to 30-Minute Chart: After identifying the trendline retest on the daily chart, you switched to the 30-minute chart for more detailed analysis. Identifying a...

sobtirubal7

"I have observed a wedge pattern in the XAU/USD chart, and it appears to have been respected. Considering this pattern and its historical significance, I am contemplating taking a long position, anticipating a potential upward movement in the price of gold against the US Dollar."

sobtirubal7

Certainly! It seems like you're observing a triangle pattern forming in the XAU/USD (Gold/US Dollar) pair, and you're considering taking a buy position once the pattern breaks. Remember, trading decisions should be based on a thorough analysis of the market, considering various factors such as trend analysis, support and resistance levels, and any relevant...

sobtirubal7

"XAUUSD has been following a channel on the 4-hour chart for a considerable period, and currently, it continues to respect that channel. This is the third instance where XAUUSD has touched its upper trendline, and from here, it has begun to move downwards."