Gold is trading within a well-respected ascending channel, and we’ve just witnessed a clean bullish flag breakout, backed by strong price action from a bullish order block.
📈 Technical Highlights:
Breakout from a bullish flag pattern with volume support.
Price respected the bullish OB and continued the uptrend.
Targeting the upper channel resistance near $3,400–3,430.
Previous impulse leg measured at ~$90 – current breakout shows similar potential.
🧠 Market Structure:
Higher highs and higher lows intact.
No major resistance until the $3,400–3,430 zone.
Potential short-term pullback into breakout zone could offer re-entry.
Bias: Bullish
Target: $3,400–3,430
Invalidation: Drop below $3,340 OB zone
📈 Technical Highlights:
Breakout from a bullish flag pattern with volume support.
Price respected the bullish OB and continued the uptrend.
Targeting the upper channel resistance near $3,400–3,430.
Previous impulse leg measured at ~$90 – current breakout shows similar potential.
🧠 Market Structure:
Higher highs and higher lows intact.
No major resistance until the $3,400–3,430 zone.
Potential short-term pullback into breakout zone could offer re-entry.
Bias: Bullish
Target: $3,400–3,430
Invalidation: Drop below $3,340 OB zone
Trade active
Trade closed: target reached
TARGET FULL REACHED Congratulaions everyone
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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.
Related publications
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.