YM.Chong

Break that Pennant (Gold) !!!

FX:XAUUSD   Gold Spot / U.S. Dollar
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Potentially pennant pattern formation for gold market. A break out of the pennant may possibly lead the gold price toward 1,300 or 1,190. MACD showed a bearish crossover which may increase the possibility that gold may break lower to 1,190.

Suggested Long or Short after any breakout of the pennant pattern formation,
Long Position : tp at 1,300, cl 5 points from open position
Short Position : tp at 1,190, cl 5 points from open position

Would appreciate if you could provided feedback for my gold technical analysis . Happy Trading :)

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