Gold (XAUUSD) Expected Ascending Triangle!
As you can see in the chart Gold has rejected two times from 1740
(NECKLINE) of H&S and also created Consolidation.
Now we are expecting Gold will come back to 1714 weekly pivot
and supported trendline. which is also called a confluence area.
Moreover, Gold hasn't retest 20EMA in Daily TF, so this means that the
recovery is not over yet. Crossover of 20 & 50 shows me
some Bullish Bias.
Confirmation: Wait for a Confluence Area 1714 and don't jump into a buying
If market shows some price action than Enter.
Target objective is 1762.
Every system has a limitation!
(NECKLINE) of H&S and also created Consolidation.
Now we are expecting Gold will come back to 1714 weekly pivot
and supported trendline. which is also called a confluence area.
Moreover, Gold hasn't retest 20EMA in Daily TF, so this means that the
recovery is not over yet. Crossover of 20 & 50 shows me
some Bullish Bias.
Confirmation: Wait for a Confluence Area 1714 and don't jump into a buying
If market shows some price action than Enter.
Target objective is 1762.
Every system has a limitation!
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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.
Related publications
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.