This bullish pennant formation on the 4-hour chart of XAU/USD provides a bullish breakout trading opportunity. The pennant and its pole are outlined with the yellow lines. My potential entry level is marked with the cyan line. My potential take-profit level is marked with the green line. I will set my stop-loss to the low of the breakout candle (not shown).
Trade active:
Buy opened @ 1259.94 today at 5:19 UTC, SL=1255.41, current TP=1281.59.
Trade closed: stop reached:
SL triggered @ 1255.41 at 6:19 UTC today.
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