From TradingView · · 1m 20s
Goldpattern sees gold aiming above 5000
A TradingView trader maps gold’s bullish channel, Fed-day risk, and the buy zones they would watch if XAUUSD dumps.
In brief
A TradingView trader maps gold’s bullish channel, Fed-day risk, and the buy zones they would watch if XAUUSD dumps. The setup is bullish above 4200 to 4300, but a dump below 4000 would reset the trader’s buy plan around the 3960 to 4000 area. Originally reported by TradingView.
Gold stays in channel
Goldpatterns sees XAUUSD trading inside a bullish channel. Pullbacks are happening, but the trader reads the structure as growing resilience.
“Gold is Trading in a Channel and its a bullish channel”
Fed day adds risk
The next Fed event could jolt the chart. Even with that risk, the pattern still points to a likely upside move in the trader’s view.
“Tomorrow we have FED”
Downside has a map
If gold dumps, the trader points to a daily head and shoulders target near 4000. They expect the 3960 area could attract another bounce.
“Daily Head and Shoulders pattern target is around 4000”
Bounce target is 4400
A rebound from around 3960 would put 4400 back in focus. The plan is to wait and see whether price confirms the turn.
“a jump from 3960 is very likely again for 4400”
Buy zones are conditional
If stopped out, Goldpatterns would look for new longs below 4000 after a dump, or above 4300 if gold holds 4200 and breaks higher again.
“i will look for again buy opportunites”
Big target sits above 5000
The bullish pattern’s stated target is above 5000, with the post title teasing 5400. The trader frames it as a personal view, not advice.
“THIS PATTERN TARGET IS ABOVE 5000”
The takeaway
The setup is bullish above 4200 to 4300, but a dump below 4000 would reset the trader’s buy plan around the 3960 to 4000 area.
