✏️Gold is consolidating in a triangle pattern. This is likely an ascending triangle pattern. We can wait for strong enough buying pressure to break the upper boundary to trigger the BUY strategy. Or wait for a reaction at the lower boundary of the triangle pattern to trigger the BUY. 3365 is broken to confirm a corrective downtrend towards 3333.
📉 Key Levels
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📉 Key Levels
- Buy trigger: Breakout of the upper triangle pattern 3385
- Buy trigger: Reaction of the buying candle at 3365
- Target 3419
- SELL Trigger Break and Retest bellow 3365
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Trade active
Gold is almost ready to break the upper border of the triangle pattern.Trade closed: target reached
Price breaks the upper border of the triangle and retests the upper border, forming a standard breakout trading method.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.