Gold's "Triangle Formation" Awaits BreakoutGoldOANDA:XAUUSDEleni_GoldenGold's "Triangle Formation" Awaits Breakout Gold has been consolidating at high levels for two consecutive days, and the yellow converging triangle on the chart is nearing its end. The room for further price movement is limited. Caught in a dilemma, poised for a breakout. Yesterday, a short position was taken at 4400 points, and a long position was taken near 4365. Profits exceeded 700 points, Each lot yielded over $7000 in profit. Welcome to observe. Heavy Resistance Above: $4400-$4435, Yesterday's two attempts to break through were met with resistance, indicating clear selling pressure. Support Below: $4350-$4360, the price has consistently held above this level, Short-term moving averages remain in a bullish alignment. Pattern Conclusion: A typical "mid-air refueling" consolidation, indicating a continuation of the uptrend. Until the triangle clearly establishes a direction, consolidation is the norm. Today's CPI is the only "trigger point." All large funds are waiting for tonight's US July CPI. This is the most significant risk event of the week, and the narrow range of gold price fluctuations is a wait for its release. If the CPI is lower than expected → the US dollar will be under pressure → gold is likely to break upwards, with a target of 4435 or even 4500. If the CPI is higher than expected → gold may initially fall sharply, but geopolitical risk aversion remains, as long as 4350 holds, it won't fall much further, presenting an opportunity to accumulate positions. Core Strategy: Hold support, wait for direction Before the data release, don't gamble on the direction; focus on one thing: buy on dips to support levels. Entry Zone: Wait for the price to retrace to around $4350-$4365, enter with a small position after a bottoming signal appears. Defense Line: Strict stop-loss below $4330, exit if it breaks down. Targets: First target is $4400, and then $4435 if it breaks through. In summary: The current bullish structure remains intact. Do not chase the market or over-leverage before the CPI data release. If the data is favorable, it will indicate a breakout; If the data is unfavorable, the trend remains intact as long as key support levels hold. Control your position size and wait for signals to act. Good luck to everyone!