Short

GOLD Triangle pattern and short expectation (95%)

Updated

GOLD Triangle pattern and short expectation (95%)

--> Open position at 1690 support/resistance level
- First target 1681
- Second target 1671 (After Triangle break out with 2 candles in 15M timeframe!)
- Third target 1651 (After Triangle break out with 2 candles in 15M timeframe!)
- !! Stop loss for first target: 1693
- !! Stop loss for other targets: 1707

Note

Long term analysis:

XAUUSD Periods and short expectation on Fibonacci retracement

Note

GOLD going short after rebounding on the monthly Up Range

Note

Congrats on your last profits guys... I'm really so happy to hear such a comments from you! Let's keep thing thing up!

Note

Here is an update (If it happens that the 1694 resistance is broken):

GOLD perfect short entry and weekly expectation

Note

After the triangle pattern breakout from the upside with two high volatile candles from the Uptrend this Idea becomes useless. Instead, you take a buy for the next resistance level.

Please always take into account that you must wait for reversal signal or confirmation (candles config, dodgy signs etc...) before enterring any trade.
This idea contains only 95% of the prediction. Take the 5% risk into account.

Trade closed: target reached

First target reached. (No breakout)

Note

UPDATE: We were waiting a short breakout for GOLD to gain some liquidity, but it doesn't, After the long breakout like we said, GOLD had proven so much liquidity to go up for the highest levels (1746 and 1800), this is the update:

GOLD long breakout: retesting the local triangle (Short-term)

MarjaniFX

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