ehsanbarak

XAUUSD Ascending Triangle Pattern

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAU is currently in ascending triangle pattern which in my opinion will break through upside first and go to test the downtrend trend line (blue). if it does what I think then longing at breakout retest would be a good idea, stop loss at around 2019 and take profit at around 2033 which is a good 1 to 3 RRR. You can partially close position at 2033 if you want and see if it breaks the trend line which I think is very likely due to the hidden bullish divergence on daily timeframe.
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