AU is clearly in an uptrend recently and price has reached a major resistance on the Daily timeframe. It has already formed a small double top at resistance and is going back up once more currently. Looking at the previous few waves, you can see that price range is getting smaller and smaller, which is like a spring being compressed more and more. 2 things could happen, (as with all trades) price can break out of this weird kind of ascending triangle, or price can break below it. We just have to wait and see what happens, you could also place a buy/sell stop order. I would prefer price break below the triangle as that would give us a nice swing trade and because RSI is on the higher side (>50).
Comment:
Price is still doing nothing much at the edge of the triangle, it could be quite explosive in whatever direction it breaks out of