GOLD OPENED AND CONSOLIDATED AT PREVIOUS DAILY RESISTANCE AND CREATED A SIMPLE RECOGNIZABLE ASCENDING TRIANGLE PATTERN
ONCE WE BROKEOUT BULLISH, POSITIONS WERE ENTERED AND TAKE PROFIT WAS SET FOR @1716 WHICH IS OUR LAST MONTHLY RESISTANCE
PRICE WAS HIT AND PROFIT WAS TAKEN.
WE CONTINUE NOW TO LOOK FOR A RETRACE AT PREVIOUS RESISTANCE WHICH NOW SHOULD TURN TO SUPPORT AT PRICE 1691
ONCE WE GET A RETEST AND REJECTION OF SUPPORT WE LOOK TO PLACEBUY ENTRIES AND SET TAKE PROFIT ONCE AGAIN FOR@1735
AND SO FORTH TOWARDS 1800
ONCE WE BROKEOUT BULLISH, POSITIONS WERE ENTERED AND TAKE PROFIT WAS SET FOR @1716 WHICH IS OUR LAST MONTHLY RESISTANCE
PRICE WAS HIT AND PROFIT WAS TAKEN.
WE CONTINUE NOW TO LOOK FOR A RETRACE AT PREVIOUS RESISTANCE WHICH NOW SHOULD TURN TO SUPPORT AT PRICE 1691
ONCE WE GET A RETEST AND REJECTION OF SUPPORT WE LOOK TO PLACEBUY ENTRIES AND SET TAKE PROFIT ONCE AGAIN FOR@1735
AND SO FORTH TOWARDS 1800
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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.