Ascending Channel on Gold Daily
The ascending channel pattern on D1 chart of XAU/USD shows potential for a bearish breakout. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the high of the breakout bar (not shown).
More information, and MT4 chart template on commodityblog.com/gold-in-ascending-channel-what-to-do-in-case-of-downside-breakout/
More information, and MT4 chart template on commodityblog.com/gold-in-ascending-channel-what-to-do-in-case-of-downside-breakout/
Trade active
Entered short on breakout on November 4 at 1108.08.Trade closed: target reached
TP reached at 1050.78.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
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You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
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.