Here e short Analysis on the XAUUSD Chart. Scenario 1 (More Likely) If we see a Breaktout from the triangle over 1702 BUY to 1709 -> Normaly a ascending triangle ends with a BUY so the chance of a break with BUY are likely by 75% TP1:
Scenario 2: If Breakout from Triangle Happens = Short to 1690 If it stays below 1690, further Short to 1682 TP1: "1690" TP2: "1682"
RSI: 61
But careful with short -> Bad market and new Coronavirus cases all over the world.
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.