XAUUSD XAUUSD - POSSIBLE BIG LONG MIDTERM TRADE📈
XAUUSD has gone the half of my take profit, so I decided to close 1/2 of my position here and put my stop loss at an entry price. Still, we have good chance to go towards upper border of the triangle, just want to reduce the risk.
XAUUSD has been trading sideways and has formed a Triangle pattern since April 23d. Looks like the price found a balance between supply and demand. Currently the price is sitting on a lower border of a triangle and potentially is forming the Wave D, according to Elliot Triangle Wave formation.
Trade cautiously!
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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.