Good Morning Forex Friends
Symmetric triangle in 4 hour chart looks more attractive now and price is near to its resistance around 1090.This will be the watching area, if gold break the resistance then our first target will meet at 1108.
I am expecting a big move after breaking the resistance.
Please keep in mind if price couldn’t break its resistance and drop down to the support level then we will wait for break of support.Because the beauty of symmetric triangle is, it can break any side either up side or down but when ever it breaks it gives a good move.
I am also sharing different time frame charts for bigger picture
so the longer term target for daily time frame remains the same 1145 expected.
Recommendation
Wait for the break of resistance
buy from 1093-96
Stoploss below 1077
Take profit 1108

Alternate
Wait for break the support
sell from 1075-73
Stoploss 1083
Take profit 1051

Always trade with stoploss with money management risk reward rule

If you have any question or concern regarding the analysis and chart patterns feel free to comment us below
You feedbacks are always welcome

Wish you happy trading

1 Hour Gold

4 Hour Gold

15 Mint Gold

Gold Daily

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