XAU/USD 4H CHART PATTERN

This chart shows a technical analysis of the Gold Spot vs. U.S. Dollar (XAU/USD) on the 4-hour timeframe, with a clear triangle breakout strategy:

Key Elements:

Triangle Pattern: A symmetrical triangle pattern formed between early April and mid-June, which has now broken out to the upside.

Breakout Confirmation: Price has broken above the triangle resistance, retested the breakout zone, and is attempting to move upward.

Entry Zone: The price is hovering just above the breakout level, suggesting this area as a potential buy entry.

Take Profit (TP) Levels:

First TP around $3,435.05

Second TP (extended target) around $3,515–$3,525


Stop Loss (SL): Placed below the triangle support around $3,349.28


Strategy Summary:

Entry: Near current price ($3,390.87) or on a small pullback.

Stop Loss: Below $3,349.28 (just under recent swing low and triangle support).

Target 1: $3,435.05

Target 2: ~$3,515–$3,525 for extended gain.


Interpretation:

This is a bullish breakout strategy. The retest of the breakout zone strengthens the bullish bias. As long as price stays above the stop loss zone, the outlook remains favorable for a move toward the take profit zones.

Let me know if you’d like this strategy translated into a code (e.g., for TradingView/Pine Script), or if you'd like help adjusting it for your risk management.