Gold 1H Symetrical triangle

Apr 19, 2024

The price of Gold is in the process of forming a symmetrical triangle. By definition, this pattern is considered to be neutral until it produces a breakout but for higher reliability, the breakout needs to be in the direction of the trend that lead into the pattern. In this case, we are looking for a breakout to the up side.

An additional important point to consider here is that in the last year and a half, the Gold has been forming symmetrical triangles on different timeframes and they've been overall reliable

Jun 14, 2024

Trade closed: target reached

The movement from the Symetrical triangle was consumed