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XAUUSD Gold: Waiting for the Bearish Continuation Breakout

XAUUSD Gold: Waiting for the Bearish Continuation Breakout

Published:09-14-2018

Pair / Instrument: GOLD

Time Frame: H4

The trend in the Timeframe: BULLISH

The trend in the Daily Chart:  BEARISH

Description: US data will be released today. A better than expected data may trigger the bearish move. We have a contracting triangle pattern on the H4 Chart. Breakout of the triangle may trigger the bearish move.

Trade Based On:Triangle Pattern

Accuracy: %90

Recommended Lot Size:

Trade:SHORT

AREA OF THE ENTRY: Estimated breakout level 1195.

STOP LOSS : Above 1213

TARGET 1: 1187.50

TARGET 2: 1.175

TARGET 3: 1.160

We have attached to chart to follow the idea: GOLD BREAKOUT

 

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

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