Gold rose nicely yet approaching the resistance zone. Short price signals formed on 1hr, 4hr timeframe and it looks like a price signal is forming on the daily.... so I've entered on the sell-side. ATR: 14 2N: 29 ENTRY: 1352 STOP: 1381 R1: 1338 R2: 1324 R3: 1309 Hmmm... I am developing a contrarian habit because the line of least resistance on gold is up!
Imminent pennant formation break out coming back on trend line support. Get on it! If break out goes long you can see my SL/TP on the chart, SL on previous low and TP target on the high of the pennant. But could go either way. I am going to wait to see how it plays out before making a decision. Good luck if you take the trade