SynergyCapital

Gold Price Outlook: Will it drop to 1870?

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
For more than a month now, Gold is consolidating in a narrow range.
It is going back and forth within this triangle pattern that I
have drawn in my chart.

However, the pattern is narrowing which indicates that a big move
may happen very soon and Gold price may break out of the triangle.

While the breakout can happen either way, price action indicates that
the chances of a breakdown and drop towards 1870 is high.

Either way, I would be looking to see a break of the Upper TL or lower
TL before placing new trades.
Trade closed: target reached: And there it goes! BOOM! Drop to 1880 :p
📌✅𝐅𝐑𝐄𝐄 𝐅𝐎𝐑𝐄𝐗 𝐒𝐈𝐆𝐍𝐀𝐋𝐒 𝐈𝐍 𝐓𝐄𝐋𝐄𝐆𝐑𝐀𝐌 https://t.me/SynergyCapital
✅✅𝐉𝐎𝐈𝐍 𝐂𝐎𝐏𝐘 𝐓𝐑𝐀𝐃𝐈𝐍𝐆 |61% 𝐏𝐑𝐎𝐅𝐈𝐓 in September: https://www.forextime.com/strategy/SteadyGrowthPCT
Text me https://t.me/SynergyCap if interested

Comments

simple and straightforward but powerful analysis
+6 Reply
@Mikhial13, Thank you for the wonderful feedback
Reply
GoodWork
+3 Reply
@PolarHusk, Thank you
Reply
Solid view, buddy!
What do you think about my analysis?
+2 Reply
SynergyCapital VasilyPonomarev
@VasilyPonomarev, Very good analysis. Thank you
Reply
Keep it up
+2 Reply
SynergyCapital khursheedmobile3
@khursheedmobile3, Thanks :)
Reply
This can very possibly happen, good luck.
+1 Reply
NiceJobToday
+1 Reply
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