Gold – Another Triangle Formation?

30 Jul - Gold 4 Hr

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Hi All,

Not sure if you are aware but Gold has quite the tendency to form triangles every now and then. After those indecision, Price Action often (but not always) shows some clearer longer term direction. Again, it often happens but it doesn’t always happen, so do pay close attention to price.

Meanwhile, price is also currently testing a short term resistance level (~1340). As mentioned last week (see article), I was hoping to get a long entry but nothing has happened as yet. With that, I’ll continue to watch this closely.

Thank you for reading and happy trading!

 

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