GOLD - Triangle of DOOM
Updated
Hello from Genesis Go!
Here we can see the larger time frame triangle Gold is currently trading in. We are going to be searching for long positions to re-test the previous resistance trend line. As you can see on this support trend line there have been many fake-outs to the downside to supply areas with a strong demand at those levels. Keep an eye on both support areas that have previously been tested and immediately bought back.
As we squeeze towards the end of this triangle we can expect a huge move.
Here we can see the larger time frame triangle Gold is currently trading in. We are going to be searching for long positions to re-test the previous resistance trend line. As you can see on this support trend line there have been many fake-outs to the downside to supply areas with a strong demand at those levels. Keep an eye on both support areas that have previously been tested and immediately bought back.
As we squeeze towards the end of this triangle we can expect a huge move.
Note
Take profit now 1786
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