Good Morning! Gold has been trading inside a Triangle for the last Day and 1/2. I've identified it to be an Ascending Triangle. If valid, price will move towards the Triangles local resistance. Then create new highs until it reaches a major Resistance zone. (1903.75 - 1906.75) The actual trade will only be activated after it reaches the order execution level. If price manages to break through the downside of the Triangle, then my first level of importance would be a 4HR Trend Support level. (1883.00) I don't normally trade gold, but I decided to incorporate more pairs into my portfolio. So here we are... Thanks for reading!
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Comments are welcomed
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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.