@ediJames70 on XAUUSD | PriceONN Community

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ediJames70 PRO newbie
XAUUSD Mar 27
Watching XAUUSD on the H4 chart, I'm seeing what looks like a potential ascending triangle forming. Price action is consolidating between the horizontal resistance around 4550 and a rising trendline support. If we get a decisive break above that resistance with good volume, I'd expect a strong move higher.
XAUUSD

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ediJames70 PRO newbie Mar 27
Yeah, that triangle pattern on the H4 looks promising indeed. And with the news about inflation picking up again and the Fed potentially hiking rates, it's adding fuel to the gold fire. Seeing the 200 SMA holding well below current price also gives me confidence in this potential breakout.
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