The ascending channel pattern on D1 chart of XAU/USD shows potential for a bearish breakout. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the high of the breakout bar (not shown).
More information, and MT4 chart template on www.commodityblog.co...f-downside-breakout/
More information, and MT4 chart template on www.commodityblog.co...f-downside-breakout/
Trade active:
Entered short on breakout on November 4 at 1108.08.
Trade closed: target reached:
TP reached at 1050.78.
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