GOLD ascending triangle, aggressive long entry
Gold has been forming a ascending triangle since beginning of 2016.
It is currently sitting on support of that triangle.
Note that this is a aggressive entry as it is possible support will not hold.
A safer entry would be when it breaks out upwards from the triangle.
I will be opening a long trade here with multiple take profits along the way.
Last take profit at upper resistance line on the chart.
Stop will be placed under the last arrow.
Disclaimer:
This is me experimenting with trading and sharing my charts.
I am not a proven profitable trader so take that into account.
If you have questions or advice please let me know.
It is currently sitting on support of that triangle.
Note that this is a aggressive entry as it is possible support will not hold.
A safer entry would be when it breaks out upwards from the triangle.
I will be opening a long trade here with multiple take profits along the way.
Last take profit at upper resistance line on the chart.
Stop will be placed under the last arrow.
Disclaimer:
This is me experimenting with trading and sharing my charts.
I am not a proven profitable trader so take that into account.
If you have questions or advice please let me know.
Comment:
Stopped out, pattern recked, no place for a long.
Not giving up on this trade just yet.
Price can still recover in my opinion.