Ascending triangle pattern is formed

7. Aug.

✏️Gold is consolidating in a triangle pattern. This is likely an ascending triangle pattern. We can wait for strong enough buying pressure to break the upper boundary to trigger the BUY strategy. Or wait for a reaction at the lower boundary of the triangle pattern to trigger the BUY. 3365 is broken to confirm a corrective downtrend towards 3333.

📉 Key Levels

• Buy trigger: Breakout of the upper triangle pattern 3385
  
• Buy trigger: Reaction of the buying candle at 3365
  
• Target 3419
  

• SELL Trigger Break and Retest bellow 3365
  

Leave your comments on the idea. I am happy to read your views.

7. Aug.

Trade ist aktiv

Gold is almost ready to break the upper border of the triangle pattern.

8. Aug.

Trade geschlossen: Ziel wurde erreicht

Price breaks the upper border of the triangle and retests the upper border, forming a standard breakout trading method.

10. Aug.

Anmerkung