Spot GoldLong
Gold Breaks Long Term Channel & Triangle
Gold has broken a long term channel and a long term triangle (view other idea below)
Zoomed in here, we can see the formation of a triangle, and a rectangle, both giving indications that we will see an upside break of the long term channel.
Broken and retested the channel as well as the newly formed rectangle. Entry upon retest, stop below most recent low inside the rectangle, targets are 2740 and 2752. Risk Reward is 4.19
Zoomed out, long term 5 month triangle:
https://www.tradingview.com/chart/USCGC/nuhas07V-Gold-Long-Term-Break-Of-5-Month-Triangle/
Zoomed in here, we can see the formation of a triangle, and a rectangle, both giving indications that we will see an upside break of the long term channel.
Broken and retested the channel as well as the newly formed rectangle. Entry upon retest, stop below most recent low inside the rectangle, targets are 2740 and 2752. Risk Reward is 4.19
Zoomed out, long term 5 month triangle:
https://www.tradingview.com/chart/USCGC/nuhas07V-Gold-Long-Term-Break-Of-5-Month-Triangle/
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