The ascending channel pattern on H4 chart of XAU/USD shows potential for a bearish breakout. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the high of the breakout bar (not shown).
More information, and an MT4 chart template can be found on commodityblog.com/what-to-do-if-gold-breaks-down-from-ascending-channel/
More information, and an MT4 chart template can be found on commodityblog.com/what-to-do-if-gold-breaks-down-from-ascending-channel/
Order cancelled
Entry setup cancelled as the price has broken well above the channel's upper border.
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.
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.