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CandlesofKarma

Golden Triangle ? XAUUSD Forecast

Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
CandlesofKarma Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Triangle priceactionanalysis Gold Technical Analysis Descending Triangle marketstructure Contains image
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trendanalysis triangle priceactionanalysis gold technicalanalysis descendingtriangle marketstructure containsimage
The one thing I would like to point out in this beautiful price action is the descending triangle that has formed on gold! Now even though we do have a breakout of this triangle, don't be surprised if we see this bullish pressure become nullified in the middle of the week. Check the dollar index analysis for more details. :-)
Comment:
I am leaning toward this shorting due to the multiple retest shown on the chart.
Comment:
Nice triangle break. Will need to reanalyze this.
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