GOLD ASCENDING TRIANGLE- POSSIBLE BUY
Updated
Price action has formed an ascending triangle.
These usually play out either way: meaning they could either be a continuation or a reversal signal. In this particular case, the fundamentals are all pointing towards an increasingly weakening USD so we can count on
XAUUSD prices going up quite substantially.
I have a pending order to avoid any fakeouts from the resistance zone. The zone has been tested 3 times, the 4th is likely to be a breakout to the upside. The bears seem to be losing this battle.
THIS IS A BUY STOP (PENDING) ORDER.
TO AVOID ANY FAKEOUTS AS THIS COULD PLAY OUT IN THE OPPOSITE DIRECTION.
This is my own trade idea and should not be taken as financial advice.
Trade at own risk.
These usually play out either way: meaning they could either be a continuation or a reversal signal. In this particular case, the fundamentals are all pointing towards an increasingly weakening USD so we can count on
XAUUSD prices going up quite substantially.I have a pending order to avoid any fakeouts from the resistance zone. The zone has been tested 3 times, the 4th is likely to be a breakout to the upside. The bears seem to be losing this battle.
THIS IS A BUY STOP (PENDING) ORDER.
TO AVOID ANY FAKEOUTS AS THIS COULD PLAY OUT IN THE OPPOSITE DIRECTION.
This is my own trade idea and should not be taken as financial advice.
Trade at own risk.
Trade closed: target reached
1:3.04 Risk to Reward ratio achieved.Big trade.
A lot of money made with this high reward trade.
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