XAU/USD Symmetrical Triangle
Chart: Daily Time Frame
Market: Bullish Trend
Bullish Indicators:
1. Symmetrical Triangle
2. Higher lows & lower highs (red circles)
3. Price ranging key weekly/daily support level @ 1220 zone
Bearish Indicator
1. High test candle (21/4/2016 candle) found at triangle resistance
Price is consolidating between 1216 and 1270. We're expecting an upside break to reach 1294,
however we need a bullish candlestick pattern or a break of the upper triangle resistance level
before a position can be entered.
Note: On the sidelines until a signal is confirmed.
Agree/Disagree? Comment below.
Market: Bullish Trend
Bullish Indicators:
1. Symmetrical Triangle
2. Higher lows & lower highs (red circles)
3. Price ranging key weekly/daily support level @ 1220 zone
Bearish Indicator
1. High test candle (21/4/2016 candle) found at triangle resistance
Price is consolidating between 1216 and 1270. We're expecting an upside break to reach 1294,
however we need a bullish candlestick pattern or a break of the upper triangle resistance level
before a position can be entered.
Note: On the sidelines until a signal is confirmed.
Agree/Disagree? Comment below.
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.
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.