@ravi8082 on XAUUSD | PriceONN Community
R
Watching this ascending triangle forming on the H4 chart for XAUUSD. We've seen a couple of rejections at the resistance around 4765-4770, but the higher lows are building up. If we break out above that key resistance with good volume, I'm expecting a strong move upwards, potentially targeting 4800 or even higher. The RSI is hovering around 52, so there's room to run. However, a breakdown below the trendline support could invalidate this pattern and send us back down towards the 50 SMA around 4750. Gotta keep a close eye on the volume with this one.