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Gold Price-Triangle Breakout Attempt (Again)

Gold Price-Triangle Breakout Attempt (Again)

2016-04-28 19:19:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Price-Triangle Breakout Attempt (Again)

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Bigger picture, 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.” I’ve been ‘thinking’ that a triangle is underway from the 2/11 high. This remains a possibility and triangle support is 1215/21 if gold pulls back again.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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