$XAUT USDT The Bullish Breakout

Trade Setup- LONG $XAUTUSDT

Entry Zone: on a clean long 1-hour candle close above 4,440 level

Stop-Loss (SL): 4,380

TP1: 4,490

TP2: 4,550.

Technical Indicators & Price Action

Moving Average Reclaim: on shorter-term time-frames, gold has begun to look good by crossing back above its 50-period moving average ($4,368.44) and 200-period moving average ($4,379.82)

This suggests that buying pressure will likely intensify at these critical support levels in the near term

RSI Conditions: Relative Strength Index (RSI 14), meanwhile, appears to peak at 66.55 for the first time in recent weeks – a sign that while bullish, the current price remains far from overbought territory, thus poised to climb higher towards this upper boundary of wedges formed in recent months

The Falling Wedge Pattern: since peaking within this year’s range near $5,600, gold has compressed inside a giant falling wedge. The floor held strong at $4,000-$4,100. #XAUT: $XAUT $BTC ‌