FX:XAUUSD   Gold Spot / U.S. Dollar
As we thought earlier, gold was looking to go higher, we just didn't get that pull back that we were expecting. We can now however see some lower targets on Gold so its a matter of time before we take that short entry to target those lower levels.

The 15M chart shows what could have been a triangle formation broken to the upside, we know these are known to give false signals so is this the fake breakout to the upside before we see that long awaited correction. There is a double top on the 15M that looks like the possible target. We're getting ready to short this next week if we get good resistance above.

Wishing you all a great weekend.

As always, trade safe.

KOG.
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🟡 Disclaimer: Not financial advice. For educational purposes only.

Comments

so where is it likely to break out
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KnightsofGold jkmutaawe
@jkmutaawe, Its already broken out. We're looking to short it from the resistance levels shown on the chart.
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