AzrulAzir

New pattern at Gold

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
At previous analysis, we have inverted head and shoulders pattern,
but price drop below neckline, and that pattern become failed.
today, I found 2 new pattern at gold.

1. Fibonacci pattern
After failed to break resistance line, price drop at fibonacci .618 level.
It mean, we have a new bullish plan here.
enter long position around fibonacci .618, and aim for 2037 as projection.

2. Ascending triangle pattern
Another pattern perform is ascending triangle pattern.
trading plan : enter long position at diagonal support and aim for 2159 as target.

Note :
* Consider this pattern failed if price drop below 1819.25
** 1961.48 will become strong resistance, this resistance can be temporary bullish target (short term target).

Good luck

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