A bullish pennant has formed on XAU/USD @ H4 and offers an upside breakout trading opportunity. The pennant and its pole are marked with the yellow lines. My potential entry level is marked with the cyan line. My potential take-profit level is marked with the green line. I will set the stop-loss to the low of the breakout candle (not shown).
Trade active
Long trade entered @ 1223.38 today at 6:07 UTC. SL=1219.16, TP=1255.49.Trade closed: stop reached
Stop-loss reached today at 6:43 UTC.
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You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
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.