XAU/USD price break top Part of Triangle

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
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- Price break top part of Triangle
- Locally uptrend
- Price can continue to grow from current level up to resistance line
- Always do your own research before opening positions and always put SL

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hmm. look my idea.
thanks for the great analysis
Have the same idea. But don’t know when it’ll breakout higher
I was long Gold around 1500 and traded the breakout nicely. I am bullish on gold overall due to the exorbitant money printing going on around the world and the inflationary pressures driving the price of gold higher. However I think that latest triangle you drew is not strong enough and a little too speculative (excuse the irony lol)

The price actually slightly moved above the fractal price around 1640 and could have sucked people into a false breakout. Plus when you look at gold futures 1! and 2! they are both showing strong resistance coinciding to this level, so check that out and use it as double confirmation before trying to go long on the breakout.
Thank you
Where will gold go now?About where should there be a callback
What do you think of gold?
i am agree with you . and see doller rate . its coming down and this is good for gold and also oil
Fawadjani saman_trader
@saman_trader, oil rate is going up???
@Fawadjani, it has begining of up trend
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