Ascending Triangle Breakout in Play!
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:
Breakout Level: [2937]
First Target: $2985 (impulse move)
Next Target: $3000+ (psychological resistance)
Market Structure & Momentum:
Higher lows indicate strong demand
Breakout volume supports the move
Bullish momentum suggests continuation
Trading Plan:
Enter on a retest of the breakout level or a strong candle confirmation
SL below previous support level (tight risk management)
TP at $2985 first, then trail stops for potential extension
If momentum continues, we could see $3000+ and beyond in the next bullish wave!
Stay disciplined & manage risk!