When looked using a weekly chart we see that the price of Gold is moving in a shrinking sideways channel, creating a triangle formation. This kind of formations are reactive in nature, and that means there is indecision and doubt in the market participants.
One nice feature of triangular formations is that the risk of any trade diminishes as the price gets closer to the vertix.
So breakouts at these points usually deliver high reward-to-risk ratios.
That means stalking this asset for a pattern resolution might be very lucrative.
One nice feature of triangular formations is that the risk of any trade diminishes as the price gets closer to the vertix.
So breakouts at these points usually deliver high reward-to-risk ratios.
That means stalking this asset for a pattern resolution might be very lucrative.
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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.
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.