GOLD Breaking out Descending Triangle
It is been observed that the price action was ranging in a symmetrical triangle for a while. Now, the price action finally breaks out from the triangle, indicating strong selling pressure. The price shall now further move down as measured to the height of triangle. Short after a pullback to previous support of the triangle as marked.
Trade active
Book Partial Profits at current price levels of 1270 and look for a pullback to short again. RegardsTrade closed: target reached
Gold reached the targets successfully, book profits friends. Regards
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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.