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.
Wait for the break of resistance
buy from 1093-96
Stoploss below 1077
Take profit 1108
Wait for break the support
sell from 1075-73
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