Gold Price-Triangle Scenario Gaining Traction
05 Apr 2016 18:42, GMTDaily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-There is no change to recent gold comments. “Gold completed a diagonal pattern (wedge) the week of February 12th. The objective from the pattern is the origin of the diagonal, which is 1392. 1307 is a good candidate for failure however. Near term, the consolidation since 2/11 may end up as a triangle (b wave high and a=c…so far) before additional strength.”
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.