XAUUSD Triangle Breakout Could Open the Door Toward 4,200$

Hello traders! Here’s my technical outlook based on the current XAUUSD (2H) chart structure. XAUUSD previously experienced a strong decline before recovering from the 4,070 Buyer Zone. After breaking above this key level, price continued higher but faced rejection near the 4,200 Seller Zone. Currently, XAUUSD is trading above the 4,070 Buyer Zone while consolidating inside a triangle between rising support and descending resistance. The structure suggests buyers are attempting to maintain control as price approaches a potential breakout. As long as XAUUSD remains above the 4,070 Buyer Zone and respects the rising support line, the bullish scenario remains valid. A breakout above the descending resistance line could push price toward the 4,200 Seller Zone (TP1). Please share this idea with your friends and click "Boost" 🚀

Transaction en cours

As we can see from today's update, sellers have pushed the price down, but overall the compression is still ongoing, buyers are also reacting!

Ordre annulé

Today the picture has become clearer. We see a full-fledged breakdown of the triangle downwards. Which indicates the continuation of the downtrend. Therefore, our scenario is canceled!

LegionQ8

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LegionQ8

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