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).