GOLD Breaking out Descending Triangle

FX:XAUUSD   Gold Spot / U.S. Dollar
300 6
It is been observed that the price action was ranging in a symmetrical triangle for a while. Now, the price action finally breaks out from the triangle, indicating strong selling pressure. The price shall now further move down as measured to the height of triangle. Short after a pullback to previous support of the triangle as marked.

Trade active: Book Partial Profits at current price levels of 1270 and look for a pullback to short again. Regards
Trade closed: target reached: Gold reached the targets successfully, book profits friends. Regards
Hello Nitish,

i don't who are you but i like your good attitude to helping the people.i am slowly understanding the charts because of you.I sincerely Thank you So Much
+1 Reply
NeeteshJain bhaskarpenny
@Bhaskarpenny Sir, I appreciate your kind words. If you wish to learn more about charts, I would encourage you to look at my educational posts links given below

That shall help you to create foundation for your analysis.
+1 Reply
how can we trade XAUUSD from india.i am new to commodity please suggest me.
NeeteshJain bhaskarpenny
@Bhaskarpenny Sir, kindly ask your brokerage house, they must be having different lots size to trade in gold. For instance
You Know -Gold Kya Hoga 1250 Hoga phir 1200$ - Vow Man-Nice Chart.Let us enjoy the trend.
+1 Reply
NeeteshJain AbhishekHSinghCMT
1250 is expected to achieve and if it breaks 1250 then we may see 1200 too. I appreciate your feedback Bro. Regards.
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