XAU/USD Technical Analysis: Ascending Channel with Multi-Touch

21 авг.

These charts depict an evolving market structure for XAU/USD (Gold Spot) and highlight significant zones and patterns across multiple timeframes.

1. Key Patterns and Channels:
Ascending Channel:

A dominant ascending channel is visible on multiple timeframes. This is a classic continuation pattern, suggesting that as long as price remains within this channel, the prevailing trend (upward) is intact.

The channel's lower boundary has been tested multiple times, reinforcing its validity as a support level.

Weekly Flag:
The “Weekly Flag” mentioned is a larger pattern that might suggest a continuation of a broader trend. Flags typically form after strong moves and consolidate before a potential continuation in the direction of the initial move.

The flag is being “correctively broken,” which hints at a potential retest of the lower boundary or a reversal if the flag fails to hold.

2. Liquidity Zones (LQZ):

15M LQZ / Reversal Zone:
This zone is near the current price and is a high-probability area for a reversal or significant price reaction. The price reacting to this level could determine the short-term direction.

1HR and 4HR LQZ:
These zones are lower and represent potential targets or areas where the price might find support if it breaks down from the current structure.

Daily and Weekly LQZ:
These are even broader zones of interest. Their distance from the current price indicates that if the price moves toward these levels, a significant trend change or a large corrective phase could be unfolding.

3. Potential Scenarios:

Bullish Continuation:
If the price holds within the ascending channel and breaks above the “corrective break” in the weekly flag, this could lead to a continuation of the upward move, targeting new highs.

Bearish Reversal:
If the price breaks below the ascending channel and breaches the 15M LQZ, it might move towards the lower liquidity zones (1HR, 4HR), indicating a deeper correction or a trend reversal.

Multi-Touch Confirmation and Advanced Pattern Recognition:
Multi-Touch Confirmation:
The chart shows multiple touches on the trendlines, especially on the ascending channel's lower boundary. These touches reinforce the trendline's validity and increase the likelihood of a significant move upon the next touch​.

ADVANCED Pattern RECON:
The "corrective break" within the weekly flag and the smaller internal channels within the larger ascending channel provide a "pattern within a pattern" scenario, which often precedes significant moves​.

Conclusion:
Monitor the 15M LQZ closely as it's a crucial area that could determine the short-term direction of the market. If price reacts strongly at this level, consider the implications for either a continuation (bullish scenario) or a breakdown (bearish scenario).