Gold on the Rise: TBO Breakout Clusters
Gold traders, take note! The "TBO Breakout Cluster" is making waves on the daily chart for Gold, and we're excited about its potential. Over the past 3 years, "TBO" Breakout Clusters have led to upward price explosions of 6% to 20%, with a 87% win rate.
But what exactly is a "TBO" Breakout Cluster? It's when three or more "TBO" Breakout symbols are printed in close proximity, indicating a potential trend reversal and bullish move. And that's exactly what we're seeing now for Gold.
But let's take one step back before we go any further. What is the "TBO"? The "TBO" is our proprietary indicator and stands for Trending Breakout Indicator- pretty fitting title, don't you think? The "TBO" shows us the strength of the trend, when trend reversals could be happening, and when breakouts (or breakdowns) could be happening on a chart. So with that explained, let's continue!
To confirm the bullish outlook, we need to check a few things. First, the price needs to be above the "TBO" Cloud, which it is. Second, all 4 lines of the "TBO" Cloud should be pointing up, and in this case, they are. Lastly, we need to see the "TBO" Breakout symbols printed in close proximity, or a cluster, and we just witnessed that happen.
Given the historical performance of "TBO" Breakouts on the daily chart for Gold over the last 3 years, we have reason to be optimistic about another breakout. So keep an eye on Gold and watch for the "TBO" Breakout Cluster to continue to unfold.
*note: we keep writing "TBO" in quotations because there is an existing ticker for TBO, and we don't want to cause confusion.
But what exactly is a "TBO" Breakout Cluster? It's when three or more "TBO" Breakout symbols are printed in close proximity, indicating a potential trend reversal and bullish move. And that's exactly what we're seeing now for Gold.
But let's take one step back before we go any further. What is the "TBO"? The "TBO" is our proprietary indicator and stands for Trending Breakout Indicator- pretty fitting title, don't you think? The "TBO" shows us the strength of the trend, when trend reversals could be happening, and when breakouts (or breakdowns) could be happening on a chart. So with that explained, let's continue!
To confirm the bullish outlook, we need to check a few things. First, the price needs to be above the "TBO" Cloud, which it is. Second, all 4 lines of the "TBO" Cloud should be pointing up, and in this case, they are. Lastly, we need to see the "TBO" Breakout symbols printed in close proximity, or a cluster, and we just witnessed that happen.
Given the historical performance of "TBO" Breakouts on the daily chart for Gold over the last 3 years, we have reason to be optimistic about another breakout. So keep an eye on Gold and watch for the "TBO" Breakout Cluster to continue to unfold.
*note: we keep writing "TBO" in quotations because there is an existing ticker for TBO, and we don't want to cause confusion.
Please email your questions to support@thebettertraders.com