Gold(
XAUUSD) has successfully broken above the upper trendline of the Descending Broadening Wedge Pattern and is currently trading above the pattern.
This breakout could signal the beginning of another bullish move during the final trading hours of the week and potentially into next week.
Can gold confirm the breakout above $4,400 and extend its rally toward $4,487?
Technical Analysis
The breakout above the Descending Broadening Wedge suggests that bearish pressure may be weakening and buyers are attempting to regain control.
However, the key trading level of $4,400 remains important for confirming stronger bullish momentum.
💡 Educational Note: A breakout above a Descending Broadening Wedge can signal a bullish reversal, especially when price successfully holds above the broken upper trendline.
I expect gold to gain stronger bullish momentum after breaking above $4,400 and rise at least toward $4,443.
If bullish momentum increases, the move could extend toward $4,487.
Trade Setup
First Take Profit(TP): $4,443
Second Take Profit(TP): $4,487
Stop Loss(SL): $4,321(Worst)
Key Trading Levels: $4,330 _ $4,400
Which level do you think gold will reach first?
🟢 $4,487
🔴 $4,321
📌 Gold Analysis(XAUUSD), 4-hour time frame.
🛑 Always use proper risk management and set a Stop Loss(SL) for every position.
🚀 If this analysis helps your trading plan, a BOOST would help more traders discover it.
XAUUSD) has successfully broken above the upper trendline of the Descending Broadening Wedge Pattern and is currently trading above the pattern.This breakout could signal the beginning of another bullish move during the final trading hours of the week and potentially into next week.
Can gold confirm the breakout above $4,400 and extend its rally toward $4,487?
Technical Analysis
The breakout above the Descending Broadening Wedge suggests that bearish pressure may be weakening and buyers are attempting to regain control.
However, the key trading level of $4,400 remains important for confirming stronger bullish momentum.
💡 Educational Note: A breakout above a Descending Broadening Wedge can signal a bullish reversal, especially when price successfully holds above the broken upper trendline.
I expect gold to gain stronger bullish momentum after breaking above $4,400 and rise at least toward $4,443.
If bullish momentum increases, the move could extend toward $4,487.
Trade Setup
First Take Profit(TP): $4,443
Second Take Profit(TP): $4,487
Stop Loss(SL): $4,321(Worst)
Key Trading Levels: $4,330 _ $4,400
Which level do you think gold will reach first?
🟢 $4,487
🔴 $4,321
📌 Gold Analysis(XAUUSD), 4-hour time frame.
🛑 Always use proper risk management and set a Stop Loss(SL) for every position.
🚀 If this analysis helps your trading plan, a BOOST would help more traders discover it.
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🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Pubblicazioni correlate
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.