XAUUSD: Triangle Structure Points to Possible Recovery To 5,230
Hello everyone, here is my breakdown of the current XAUUSD setup.
Market Analysis
Gold previously traded inside a range between 5,130 support and 5,230 resistance. A breakout above resistance briefly occurred but failed, triggering a sharp drop back toward support. After the decline, price formed a triangle structure with descending resistance and rising support.
Currently, gold also developed a short-term downward channel while approaching the 5,130 support zone, where buyers previously defended the market.
My Scenario & Strategy
As long as XAUUSD holds above the 5,130 support zone, a recovery toward the 5,230 resistance level remains possible. This level represents the main upside target and aligns with the upper resistance area where sellers previously defended the market.
However, if price breaks decisively below 5,130, the bullish recovery scenario would weaken and the market could extend the decline toward deeper support levels.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Market Analysis
Gold previously traded inside a range between 5,130 support and 5,230 resistance. A breakout above resistance briefly occurred but failed, triggering a sharp drop back toward support. After the decline, price formed a triangle structure with descending resistance and rising support.
Currently, gold also developed a short-term downward channel while approaching the 5,130 support zone, where buyers previously defended the market.
My Scenario & Strategy
As long as XAUUSD holds above the 5,130 support zone, a recovery toward the 5,230 resistance level remains possible. This level represents the main upside target and aligns with the upper resistance area where sellers previously defended the market.
However, if price breaks decisively below 5,130, the bullish recovery scenario would weaken and the market could extend the decline toward deeper support levels.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Trade wurde manuell geschlossen
After breaking through the descending channel, gold could not hold out for long and returned to the channel and continued its downward movement!
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🚀If you want became part of my trading team & start making big profits welcome to my paid VIP signals group, write me✏️ t.me/ratner_1
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.