GOLD has reached a major resistance point on the daily chart. Plus I have identified a triangle is starting to form maybe because GOLD will consolidate before taking another big move. We are entering a SHORT position aiming to the bottom line of that triangle with the SL set just above the prior high.
Trade active:
Open SHORT at 1353.83 with SL at 1366.5 having a target at 1317.34
Comment:
Taking some profits from this thing. Waiting for it to reach the bottom part of the triangle.
Trade closed: target reached:
We hit 1317.34 a few days ago, I forgot to update this.