Technical Analysis of Gold (XAU/USD) on the 15-Minute Timeframe – August 18

Problem Statement:
On the 15-minute XAU/USD chart, gold is trading at $4,304.53 with a slight increase of +0.01%. A yellow symmetrical triangle pattern is forming, and the MACD indicator shows early bullish momentum. This analysis aims to identify optimal entry and exit points based on these technical signals.

Symmetrical Triangle and Potential Breakout

The symmetrical triangle pattern is tightening with converging trendlines. This setup often precedes a breakout. If the price breaks upward, the first target is $4,320 followed by $4,340. If it breaks downward, support lies at $4,290 and then $4,275.
Suggested Strategy: Buy on breakout above $4,308 with a target of $4,320 and stop-loss below $4,295.

MACD Indicator Status

Current MACD values:
MACD Line: -0.77
Signal Line: -0.34
Histogram: +0.43
The positive histogram suggests early buying pressure, but the negative MACD and signal lines indicate that full confirmation is pending. Waiting for a breakout is recommended before entering a trade.

Key Price Levels

Based on the chart’s price axis, the following levels are critical:
- Resistance: $4,308, $4,320, $4,340
- Support: $4,295, $4,290, $4,275
If price stabilizes above $4,308, the bullish scenario becomes active.

Trading Summary Table

Trade Type	Entry Point	Target	Stop-Loss
Short-Term Buy	$4,308	$4,320	$4,295
Extended Buy	$4,320	$4,340	$4,305
Correction Sell	$4,290	$4,275	$4,305

Python Code Example for MACD Analysis on Gold

You can use the following Python code to analyze MACD status for gold using price data:


import pandas as pd
import ta

# Assume df contains gold closing prices
df['MACD'] = ta.trend.macd_diff(df['Close'])
df['Signal'] = ta.trend.macd_signal(df['Close'])

# Buy signal when MACD is above the signal line
df['Buy_Signal'] = df['MACD'] > df['Signal']

This signal helps identify the beginning of bullish momentum and optimal entry timing.

Conclusion

With a symmetrical triangle pattern and early MACD signals, gold is approaching a decisive move on the 15-minute chart. Traders should wait for a confirmed breakout and activate trading scenarios based on direction. Momentum indicators can enhance precision and risk control.

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