GC Is Testing the Previous HIGH to Consolidate In triangle Patt.
EXPECTATION: the market could continue to consolidate to complete the Triangle pattern. Today, I'm bullish since the market is above the VWAP.
The market may break the triangle from above to reach some previous recent highs as 78.6% Fibonacci Level which corresponds to the 2015 price level (blue arrow).
If the market breaks from below, it may reach the 38.2% Fibonacci level (orange arrow) since it already tested this level 12 August.
Focus on volumes traders!
The market may break the triangle from above to reach some previous recent highs as 78.6% Fibonacci Level which corresponds to the 2015 price level (blue arrow).
If the market breaks from below, it may reach the 38.2% Fibonacci level (orange arrow) since it already tested this level 12 August.
Focus on volumes traders!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.