XAUUSD Gold Triangle Breakout And Short Opportunity
Pattern /Reason: Triangle Pattern
Time Frame: M30
Accuracy of the Pattern: 78%
Setup No: XAUS081501
Recommended Lot: 0.40
Trade Period: Scalping / Intraday
Stop Loss: Above 1521
TP1: 1509 / Reached
TP 3: 1497
Divergence/ Convergence Confirmation: RSI Divergence H4
Candle Pattern Confirmation: Not Yet – Will be updated.
Moving Average Confirmation: Nothing Particular
The trend of the Timeframe: Bullish
The trend in the Daily Chart: Bullish
As seen in the below chart, the price reached TP1 and retested the broken structure. We predict bearish continuation.
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.
VERIFIED ACCOUNT AND SETUP RESULTS
Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.
You can contact us via Skype User Name: Chartreaderpro
DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility