Quick Analysis! Is GOLD a good entry? XAU/USD Strategy

Hey traders! Today, we’re doing a quick analysis of gold (XAU/USD). The price is at a key level with Fibonacci retracements and a descending triangle pattern. Is it time to buy or sell? Let’s take a look.

Gold is respecting the Fibonacci levels. If it breaks the 0.5 at 2,667 to the upside, it could be a good buy signal. But if it drops below the triangle, we might see more downside, so watch that level closely.

If the price goes up, target 2,697. If it drops, target 2,599. Always manage your risk with a stop loss.

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Disclaimer:
This idea is for educational purposes only and is not financial advice. Trading involves risk; do your own research.