Gold (XAU/USD), Trading plan.

TVC:GOLD   CFDs on Gold (US$ / OZ)
GOLD is in a triangle the best option is to open entry when the price will break it out.
On this chart, I showed bullish scenario because I think Gold has a big opportunity to move up till $1306.

Don't hurry to open buy or sell because when the price in a triangle there is no entry till it will break it.
Comment: Price still in triangle
Comment: Price broke down triangle
If 1hour candle will close under it - that will be sell signal
Comment: Gold broke down triangle
Comment: I recommend to open sell after pullback only
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Nice chart Practice your triangles.
+2 Reply
YuriyBisko : Please suggest me what to do in GBPUSD.
+2 Reply
Yuriy_Bishko VinodSharmab4
@VinodSharmab4, Better to be out.

Currency is not stable now because of Brexit pressure.
+1 Reply
Gold will melt ;)
+1 Reply
Dani0 baderocks2
@baderocks2, That is my current perception.
excellent chart
+1 Reply
Agree with you! Great Idea
+1 Reply
One thing i hate about some triangle patterns, can breakout either way. trick i use is putting buy orders for both directions, trick here is positioning the orders at breakout points.
@Dani0, i open position after break and fix under or above
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