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FTE1995
Aug 9, 2019 2:24 PM

GOLD - Ascending triangle pattern criteria met Long

GOLD (US$/OZ)TVC

Description

CRITERIA:
1. Prior trend (BULLISH)
2. At least 2 reaction highs (CONFIRMED)
3. At least 2 reaction lows (CONFIRMED)
4. Contracting volume throughout patterns formation (CONFIRMED)

Resistance of pattern @ 1510 needs to be broken to confirm
Comments
RadeMartinovic
Excellent analysis. Bullish breakout is most likely, but if it breaks through support line - then its bearish. It’s important to keep an eye on key levels and to avoid false breakouts.

Scalpers can use this for scalping.
litlecupid
can this be considered a bearish scenario or should be look for a backtest..
litlecupid
great chart..
bentahi1
Great trade ! thunk you for sharing !
but what is the Target ?
RadeMartinovic
@bentahi1, you need to calculate that yourself
salvanost
@bentahi1, use fib from 1509 to 1492 you will see the target
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