Gold stuck in a triangle
Hello,
As you can see in the chart above a symmetrical triangle is formed on the daily chart and we are now in the narrow side of it, which points to a breakout soon. Remember, breakouts in such triangle might happen in both direction.
What matters for us traders isn't the direction itself but the breakout and the projected target of it which is in this case around 90 as per the measurement strategy (1750-1660).
Trade safe
As you can see in the chart above a symmetrical triangle is formed on the daily chart and we are now in the narrow side of it, which points to a breakout soon. Remember, breakouts in such triangle might happen in both direction.
What matters for us traders isn't the direction itself but the breakout and the projected target of it which is in this case around 90 as per the measurement strategy (1750-1660).
Trade safe
Ramzi Abou Abdallah, CFTe, CMT
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