XAUUSD Gold: Waiting for the Bearish Continuation Breakout
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
Recommended Lot Size:
AREA OF THE ENTRY: Estimated breakout level 1195. / 1196.73 Triangle is broken Sep 21st
STOP LOSS : Above 1213
TARGET 1: 1187.50
TARGET 2: 1.175
TARGET 3: 1.160
Update: 1188 has been reached. We wait for the breakout of 1188 and keep our targets open.800 pips so far.
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