Gold Triangle Pattern

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Gold Triangle Pattern

I wrote about the Gold triangle last week (click) and the triangle is still holding.

On the lower timeframe, the price still keeps bouncing off the triangle border nicely. The inverse Head and Shoulders provided an excellent opportunity during the range-bound market.


The screenshot below shows the triangle that we already mapped out last week. The support keeps holding. Now, the price is moving into the tip of the triangle and traders are waiting which direction Gold may be headed next.


 

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