Gold is currently consolidating in a symmetrical triangle pattern around $3,389. If it breaks above $3,402, we can expect a bullish continuation toward $3,420 and beyond. Key support lies at $3,367; a breakdown below this level would turn the trend bearish. The overall trend is still bullish, but a breakout is needed for confirmation.
📈 Potential Scenarios:
✅ Bullish Breakout Scenario:
- Break above $3,392–$3,402 zone.
- Targets: $3,420 > $3,450 > $3,480
- Supported by strong upward BOS (Break of Structure) and higher lows.
❌ Bearish Breakdown Scenario:
- Breakdown below $3,373–$3,367 zone.
- Targets: $3,355 > $3,345
- Would invalidate current bullish structure and form a lower low.
🔮 Trend Bias:
Bullish Bias remains intact as long as price stays above $3,367 and maintains higher lows. However, consolidation suggests waiting for breakout confirmation from the triangle before entering new trades.
🧭 Trend Outlook:
Gold is currently consolidating in a symmetrical triangle pattern, which typically precedes a breakout — either upward or downward. The price is holding above the key Fibonacci support levels and the overall market structure is bullish, suggesting an upward continuation is more likely if buyers maintain momentum.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
📈 Potential Scenarios:
✅ Bullish Breakout Scenario:
- Break above $3,392–$3,402 zone.
- Targets: $3,420 > $3,450 > $3,480
- Supported by strong upward BOS (Break of Structure) and higher lows.
❌ Bearish Breakdown Scenario:
- Breakdown below $3,373–$3,367 zone.
- Targets: $3,355 > $3,345
- Would invalidate current bullish structure and form a lower low.
🔮 Trend Bias:
Bullish Bias remains intact as long as price stays above $3,367 and maintains higher lows. However, consolidation suggests waiting for breakout confirmation from the triangle before entering new trades.
🧭 Trend Outlook:
Gold is currently consolidating in a symmetrical triangle pattern, which typically precedes a breakout — either upward or downward. The price is holding above the key Fibonacci support levels and the overall market structure is bullish, suggesting an upward continuation is more likely if buyers maintain momentum.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Trade active
Trade closed: target reached
$28=280 pips Booked
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.