decision zone on gold

hey traders,

on gold as the market reached 1300 we see a market contraction.
the prices coils in a triangle and traders are waiting for news to determine the market future direction.
as it always happens on financial market: contraction leads to expansion, so the best thing we can do is to wait for a decent breakout.

though trend is clearly bullish, my experience shows that such triangles can be violated in both sides.
if you are a trend following trader, the only thing that you focused on is bullish violation,
if bearish occurs you just skip a trade.

good luck!

Kommentar:

still inside the triangle

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test of resistance

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coils inside the triangle

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bearish violation