Gold forming cup & handle on daily bars, headed for 1293

OANDA:XAUUSD   Gold Spot / U.S. Dollar
133 0 4
Cup and handle formation on daily bars. Neckline is at 1275. On a breakout above this level, target is same distance as bottom of cup to top right of cup, so $18. That would give us a target of 1293.

Invalidate if handle retraces more than 2/3 of cup depth, so below 1256.
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