Gold has broken the previous trendline channel (blue channel) and is now retracing back to the trendline channel. We expect the price to go down after the retracement is complete. But where will the price stop and start to reverse? We think that the pattern will form a Quasimodo pattern, where the price will hover around 2330-2337 before dropping to the minimum target level of 2282. The stop loss is at 2342. Good Luck!
Trade active
This idea is still active. But unfortunately, our entry price is still not trigger.
Trade active
Our entry price triggered.
Trade closed manually
Hit Stop Limit. Sorry guys. The price did not reach our target.
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.