@thomas3162 on XAUUSD | PriceONN Community
I'm observing a potential ascending triangle pattern forming on the hourly chart for XAUUSD. The price seems to be consolidating between a horizontal resistance around 5018 and an upward sloping support trendline. If the price breaks decisively above the resistance with increased volume, it could signal a continuation of the bullish momentum. I'm watching this closely for a possible long entry.
Replies
Hey @thomas3162, an ascending triangle on this chart? Interesting. I'm seeing more of a bearish divergence on the H4 RSI, with price testing below the 50 SMA. Watching 4500 support closely, seems like the key level right now.