Buy XAUUSD Channel Breakout

The XAU/USD pair (spot gold) on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a well-defined bullish channel pattern. This breakout suggests a shift in momentum towards the upside and a higher likelihood of further price increases in the coming hours.

Key Points:

Buy Entry: Consider entering a long position (buying) above the broken resistance level of the channel, ideally around 2320 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum.

Target Levels: Initial bullish targets lie at the following points:
2373: This represents the height of the channel, measured from the channel's base (opposite trendline) to the breakout point, projected upwards from the breakout.
2410: This is a further extension of the upside target, based on the height of the recent price movement before the breakout.

Stop-Loss: To manage risk, place a stop-loss order below the broken resistance line of the channel, ideally around 2290. This helps limit potential losses if the price unexpectedly reverses and breaks back downwards.

Thank you.

Trade active:

Geopolitical Tensions: Ongoing geopolitical tensions, particularly the situation between Iran and Israel, can significantly increase demand for gold as a safe-haven asset. This could push prices higher.

Trade closed manually:

Xau/Usd, there is no long movement's from yesterday, now sentiment turns to bearish.

So now closed manually near to  entry point or with small loss📣📣