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XAUUSD Gold: Waiting for the Bearish Continuation Breakout Update: TP1 Reached 800 pips

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

Accuracy: %90

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

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