GOLD: Remains In a Very Risky Position

[TradingPuzzles]

GOLD: Remains In a Very Risky Position

The current price of gold is around 3643. Currently, the price is moving sideways within a triangle pattern (consolidation). The highest price ever reached was at 3675.

The current picture is a bit complex, considering that after the Gold reached 3675 without news, it moved down when Israel carried out an airstrike on Doha during the last couple of weeks. Since that moment, GOLD has only been developing a larger correction without direction.

Two possible scenarios are ahead but as long as we are in a strong manipulated trend, we have to be careful because it can resume the predominant trend again:

If price breaks UP 3675 (blue arrow), gold can first test 3672–3675 (the all-time high).
If it breaks that, possible next targets are 3712 and 3750

If price breaks DOWN 3627 (red arrow)

It could drop towards these targets: 3612; 3583; 3545 and 3507

Key point:
Market is very risky here because it’s close to all-time highs and stuck in a tight pattern.
A strong breakout in either direction will decide the next move.

You may find more details in the chart!
Thank you and Good Luck!

[TradingPuzzles]

It's breaking out...let's see how far it goes

[TradingPuzzles]

Will this be a real bullish breakout or a false breakout again
This is the question

[Dave]

Gold is sitting in a very tricky spot right now, right under its all-time highs. The triangle pattern shows how much pressure is building up. Patience and risk management are key here because a breakout in either direction could be explosive.

[Jibon1199]

The chart makes it clear this is not the moment to be careless. Gold is consolidating in a very manipulated zone, and the next breakout will set the tone. Staying cautious while watching the 3675 and 3627 levels closely feels like the best approach.

[Trader Tilki]

Good work

[The_Walking_Dead]

Gold sitting in a tight triangle — breakout either way could be explosive ️