Gold: Triangle Pattern and How to Trade
The Gold will be able to provide interesting trade opportunities during the next week. The price is moving sideways in the borders of a triangle chart pattern. It tells us about the consolidation period which will be replaced by a new price movement up or down.
If the price breaks the upper border, it will be a bullish signal in the direction of the main trend. It will be possible to use the breakout signal for buying. The exact entry and exit points we will search for using the daily and hourly timeframes.
If the price breaks the bottom border and SMA50, it will be a bearish signal. The price will move down with the main goal at 1795.00$ support.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price breaks the upper border, it will be a bullish signal in the direction of the main trend. It will be possible to use the breakout signal for buying. The exact entry and exit points we will search for using the daily and hourly timeframes.
If the price breaks the bottom border and SMA50, it will be a bearish signal. The price will move down with the main goal at 1795.00$ support.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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