XAUUSD Forming Triangle Pattern – Eyeing Breakout After Wave (e)

🚨 Gold (XAUUSD) Technical Analysis – 3H Chart
Gold is currently forming a classic contracting triangle pattern (ABCDE), with wave (e) in progress. Price is bouncing from a strong buyers’ zone near 3269.60, showing signs of upward pressure.

📊 Current Structure:

Wave count: (a)-(b)-(c)-(d)-(e)

Consolidation within a symmetrical triangle

Key support: 3269.60

Resistance zone to watch: 3408.00


📈 Potential Scenario:
If price holds above the buyer’s zone, we can expect a bullish wave (e) push towards the upper trendline at 3408, potentially leading to a breakout continuation.

📍 Trade Plan (Educational Purpose):

Long Setup Valid Above: 3269.60

Target: 3408.00

Stop Loss (SL): Below 3260 (based on your risk profile)



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🧠 Why This Matters?

This triangle setup often leads to strong breakout moves, especially in commodities like gold during fundamental uncertainty or dollar index shifts. The market is compressing — be prepared for the breakout move.


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