Nickonomics

Gold: Triangle thrust is imminent

FX:XAUUSD   Gold / U.S. Dollar
The price of gold             has been coiling all week inside a clear Triangle pattern . The Fed's announcement this evening may lead to a breakout and thus offer new trading opportunities. Our view is that a break above 1105 would also activate a reverse Head&Shoulders pattern and target 1122 area as first objective. On the other hand, a move below 1077 would mean downtrend continuation to 1060-ish.
I'm considering buying a bit earlier just above 1100. I guess the previous upswing is a first wave (or A), now we're in 2nd (B). So, another wave higher is likely.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out