Ascending Triangle Breakout in Play!
π Ascending Triangle Breakout in Play! π
Gold (XAUUSD) has formed a bullish ascending triangle, signaling strong buying pressure. Price has successfully broken out of the resistance zone, confirming an upward impulse.
Key Levels:
πΉ Breakout Level:
πΉ First Target: $2985 (impulse move)
πΉ Next Target: $3000+ (psychological resistance)
Market Structure & Momentum:
β
Higher lows indicate strong demand
β
Breakout volume supports the move
β
Bullish momentum suggests continuation
π Trading Plan:
π― Enter on a retest of the breakout level or a strong candle confirmation
π― SL below previous support level (tight risk management)
π― TP at $2985 first, then trail stops for potential extension
If momentum continues, we could see $3000+ and beyond in the next bullish wave! π
π Stay disciplined & manage risk! ππ°
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