Darius17

Gold long or short - Triangle Pattern

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello Traders!

On Gold we can now clearly see that we are in an indecision phase. This is why we can view on the daily this triangle pattern . We have this indecision phase because from a monthly chart we want to see gold doing some correction before price is continuing to go to the upside. But from a weekly perspective we already made some correctional moves.

From my point of view I see the bearish scenario as the most possible one. I rather expect a big drop in order to see that retracement which is expected on the monthly chart. Afterwards I would like to see Gold continuing with the strong bull trend.

That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.

Thank you and we will see next time
- Darius.
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Comments

good deal, I like that, excellent setup.
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Thanks for sharing.
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