Get started
Veejahbee

Gold Triangle Pattern Could Send Price Lower

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
Veejahbee  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Wave Analysis Chart Patterns Trend Analysis Gold xauusdshort xauusdsell goldsignals
4
0
waveanalysis chartpattern trendanalysis gold xauusdshort xauusdsell goldsignals
Hi Traders,
Gold has been trading sideways after a strong decline last week. This sideways price action fits for Elliott Wave triangle pattern which usually forms in the fourth wave.

If this count is correct, the price should break out of the pattern and head lower.

What's your view on Gold? Let me know in the comment.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.