Gold Bullish Channel Continuation – Buy the Pullback Toward 4860
Gold (XAUUSD) is currently trading inside a well-defined ascending channel on the 30-minute timeframe, showing strong bullish structure. Price recently pulled back to the mid-channel support area, aligning with the Ichimoku Cloud support, suggesting a potential continuation of the upward move.
The recent rejection from the lower support zone indicates buyers are still in control.
Trade Idea:
Entry: 4825 to 4820
Stop Loss: 4810
Target: Previous resistance near 4860 – 4880 area
Technical Confluence:
Ascending channel structure
Support from the Ichimoku Cloud
Bullish market structure with higher highs and higher lows
Pullback providing a potential continuation entry
If price maintains support inside the channel, the next move could be a continuation toward the upper channel resistance.
source https://www.tradingview.com/chart/GOLD/u7bpUpFa-Gold-Bullish-Channel-Continuation-Buy-the-Pullback-Toward-4860/
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