GOLD 4H CHART PATTERN

This chart shows a 4-hour technical analysis for Gold (XAU/USD). Here's a breakdown of the chart and what it may be suggesting:


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📊 Pattern Analysis:

Triangle Pattern: A symmetrical triangle has formed, which typically indicates consolidation before a breakout.

Breakout Direction: The chart anticipates a bullish breakout, as shown by the arrows and price targets above.



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📈 Key Levels:

Current Price: ~$3,313.73

Stop Loss: $3,264.032 (marked in red)

First Take Profit (Teak Profit): $3,405.488

Second Take Profit (Teka Profit): $3,501.179



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🛠 Strategy Outline:

Entry Point: Just above the breakout confirmation of the triangle.

Stop Loss: Below the most recent support and triangle base.

Take Profits:

Target 1: Conservative (Teak) at resistance area around $3,405.

Target 2: Aggressive (Teka) at next major resistance at $3,501.




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⚠ Observations:

The market is at a critical zone; watch for a confirmation of breakout before entering.

The labeling of "Teak" vs "Teka" profit might be a typo – possibly intended to be the same term.

The chart suggests a potential long position setup, with defined risk and reward zones.


Would you like help with calculating the risk-reward ratio, or would you like an opinion on the pattern's reliability based on price action?