Gold - 4H , Are you ready for a dip correction?

17 Tem

In the 4H and Daily chart, XAUUSD has exhibited three pushes, and today the price consolidated under the trend line. This formation is an ascending channel, which can break from the top, but the last bullish leg didn’t have enough pullbacks. It seems bulls are taking some profits now, indicating a potential fall from this area.

19 Tem

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Gold (XAUUSD) has successfully reached the first expected support zone after a significant drop. It perfectly reacted to the resistance at the top of the ascending channel, as predicted. This movement underscores the importance of these critical zones in trading strategies. Congrats to everyone who followed the analysis and capitalized on this opportunity.