There is an ascending channel developing, the price is breaking out.
In case if price breaks below support, the move could predict that prices move counter to the prevailing price trend.
A bearish move towards 1990 is on the cards on a breakout of the ascending channel.
Gold: Ascending Channel
XAU/USD,
1 hour
SHORT
Mar 1
It seems like XAU/USD establishes an ascending channel, the price requires an active move for the certainty of breakout.
An ascending channel identifies a reliable chart pattern that is angled up that results in a move down if price breaks below support.
It is not ruled out that a bearish move towards the 2045 zone will happen as XAU/USD becomes capped.
Gold: Descending Triangle
XAU/USD,
4 hours
SHORT
Jan 3
There is a descending triangle developing.
A descending triangle tends to be a price formation that can be used to indicate extending an downtrend once price breakdown occurs.
There is a probability of a rangebound to 2060 as there is a chance of further weakness.
Gold: Descending Channel
XAU/USD,
1 hour
LONG
Oct 25
A descending channel takes place, the price is ready to break out now.
A descending channel typically predicts a further move up once price breaks out to the the upside.
XAU/USD to move up towards the 1990 mark on a breakout of the descending channel.
Gold: Descending Channel
XAU/USD,
1 hour
LONG
Jan 5
We can see that a descending channel is determined.
A descending channel typically results in a further move up once price breaks out.
XAU/USD to enjoy a considerable gain towards 2052 on a upside break.
Gold: Rectangle
XAU/USD,
1 hour
SHORT
Nov 6
XAU/USD forms a rectangle.
Once price breaks through the support, the move could predict the bulls have run out of steam.
XAU/USD to continue lower to 1985 on a breakout of the rectangle.
Gold: Ascending Channel
XAU/USD,
1 hour
SHORT
Apr 14
There is an ascending channel emerging and XAU/USD demands a more strong correction to confirm a breakout.
An ascending channel represents a specific price action signal that often identifies that the price to go down in case if price breaks through the support.
It is likely that a bearish price action towards 2050 will take place on a break below 2058.
Gold: Bearish Rectangle
XAU/USD,
1 hour
SHORT
Oct 4
It looks like a bearish rectangle is found.
A bearish rectangle results in a sharp decline when price breaks through the support.
XAU/USD risks extra losses towards 1834 as XAU/USD nears 1835 hurdle.
Gold: Falling Wedge
XAU/USD,
1 hour
LONG
Mar 22
There is a falling wedge encountered and the price demands a more move as a verification of a breakout.
A falling wedge typically results in that prices are likely to keep rallying upward once price breaks out to the the upside.
There is a probability of a bullish continuation to 1950 while above 1944.
Gold: Pennant
XAU/USD,
1 hour
SHORT
Jul 19
There is a pennant found.
If price collapses through the support line, the resulting move could predict a sharp decline.
XAU/USD set to lose more ground to 1980 on impulse below 1980 as the commodity loses bullish momentum.
Gold: Falling Wedge
XAU/USD,
1 hour
LONG
Jun 29
As we can see a falling wedge turns up, XAU/USD demands more steady push up as a sign of a breakout.
A falling wedge suggests a useful bullish pattern that is angled down that typically predicts that the price to go up when price breaks out.
XAU/USD to prolong the growth phase towards 1920.
Gold: Rectangle
XAU/USD,
1 hour
LONG
Jul 18
We can see that a rectangle has been distinguished.
A rectangle tends to be a compelling bullish pattern that results in a next move up once price breaks out to the the upside.
XAU/USD to continue the appreciation trend towards the 1966 mark.
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Gold · XAU/USD