A bullish pennant has formed on XAU/USD @ H4 and offers an upside breakout trading opportunity. The pennant and its pole are marked with the yellow lines. My potential entry level is marked with the cyan line. My potential take-profit level is marked with the green line. I will set the stop-loss to the low of the breakout candle (not shown).
Trade active:
Long trade entered @ 1223.38 today at 6:07 UTC. SL=1219.16, TP=1255.49.
Trade closed: stop reached:
Stop-loss reached today at 6:43 UTC.
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