Update on XAU/USD Futures ( GC ) by ThinkingAntsOk
Main items we can see on the 4HS Chart:
a)The price is above a significant Support/Resistance zone
b)There we saw the formation of a Triangle Pattern (ABCDE Completed)
c)From a Technical Perspective, once we have a breakout of a structure like this, we should expect a new bullish movement
d)Our Bullish Target is a Weekly Resistance Zone at 1900
e)Now we have a new corrective Structure ABC pattern, and the price made its first attempt to break it
f)Also, we have an ascending trendline in which the price is supported.
g)This is another excellent structure to develop long setups towards the next Target.
a)The price is above a significant Support/Resistance zone
b)There we saw the formation of a Triangle Pattern (ABCDE Completed)
c)From a Technical Perspective, once we have a breakout of a structure like this, we should expect a new bullish movement
d)Our Bullish Target is a Weekly Resistance Zone at 1900
e)Now we have a new corrective Structure ABC pattern, and the price made its first attempt to break it
f)Also, we have an ascending trendline in which the price is supported.
g)This is another excellent structure to develop long setups towards the next Target.
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