@coldreef on XAUUSD | PriceONN Community
C
Is anyone else noticing a potential ascending triangle forming on the H4 chart for XAUUSD? The resistance is around 5230, and the series of higher lows is quite evident. I'm curious if this could be a strong bullish signal if it breaks, especially with the SMA200 acting as dynamic support around 5184. However, the RSI is approaching overbought territory, so might need a slight cool-off before the breakout. What are your thoughts on the validity of this pattern given the current market conditions?