Cangaceiro

XAUUSD Ascending Triangle and reversal candle

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
We are inside a wave pattern and ascending triangle now with some consolidation. The 1883 zone in green as you can see is being respected, as I mentioned. Is there enough momentum to breakout ?

I will wait for further confirmations before anything, but as of now the patterns have repeated themselves time and time again, which is useful for scalps (which I am not a fan).

The strategies I am currently testing : Confluence trading strategy with price action, Pivot Standard zones, Fibonaci and candlestick and support and resistance (naked trading)

Lets see if this consolidation can make her mind up already.
Trade closed: target reached

Comments

Thats symmetrical triangle. so its either go up or down.
+1 Reply
Cangaceiro NewbiesTrading
@NewbiesTrading, Thanks for the comment check out my previous idea I mentioned both scenarios and luckly it broke to 1898s for my position :D
Reply
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