XAUUSD H1: POTENTIAL DESCENDING TRIANGLE BREAKOUT IN GOLD
Updated
Potential Descending Triangle Breakout in Gold
The chart for Gold (XAU/USD) appears to be forming a descending triangle pattern.
This pattern can be a continuation pattern or a reversal pattern, but in this case, a breakout above the resistance line could signal a bullish reversal.
Current Price: $2,193.82
Target: $2,222.96 (upper trendline of the triangle)
Stop-Loss: $2,180.00 (below the support line of the triangle)
Additional notes:
IF THE POTENTIAL DESCENDING TRIANGLE NOT BREAK UP SIDE THEN MARKET COMEBACK IN$2180
The descending triangle is a bearish continuation pattern, but a breakout above the resistance line could signal a bullish reversal.
The volume appears to be increasing, which could be a sign that a breakout is imminent.
This is just an idea and you should always do your own research before making any investment decisions.
The chart for Gold (XAU/USD) appears to be forming a descending triangle pattern.
This pattern can be a continuation pattern or a reversal pattern, but in this case, a breakout above the resistance line could signal a bullish reversal.
Current Price: $2,193.82
Target: $2,222.96 (upper trendline of the triangle)
Stop-Loss: $2,180.00 (below the support line of the triangle)
Additional notes:
IF THE POTENTIAL DESCENDING TRIANGLE NOT BREAK UP SIDE THEN MARKET COMEBACK IN$2180
The descending triangle is a bearish continuation pattern, but a breakout above the resistance line could signal a bullish reversal.
The volume appears to be increasing, which could be a sign that a breakout is imminent.
This is just an idea and you should always do your own research before making any investment decisions.
Trade closed: target reached
POTENTIAL DESCENDING TRIANGLE BREAKOUT IN GOLD IT WILL HIT NEW ATH $2236Congratulation those will trades with our setup and they will be in huge profit
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