Daniel-Malik
Short

XAUUSD-May be A break out ??

FX:XAUUSD   Gold / U.S. Dollar
427 4 12
Breakout can be expected as the market is in quiet range after a very long bullish move and brexit effect you can say.
Comment: BreakOut yet to come
Comment: 100 pips in profit , so better to close now ..
Wow. From Pakistan. Congrats on the profit kicked in.
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Daniel-Malik HanHarbin
Thank you so much :)
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Congrats on the profit but pennants are consolidation then move to with the previous trends, they are not reversal signals. FYI there was no breakout on either side, the price has just drifted sideways. A breakout would signal a move below or above the patterns top / bottom
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I know pennants are the sign of trend continuation, But just for a minute if you remove the boundary lines of pennant, you will find strong resistance over it. So possibilities are for down trend, and as you said pennant is for consolidation that doesnt mean after every consolidation trend continues. we have to looked over certain things as well. By the way thanks for point out .. Really appreciate.
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