12/05/2021
XAUUSD (spot Gold) - Weekly
Entry Order: SELL Stop @ $1753.00
Stop Loss: $1787.00
Take profit: $1677.00
Trade Risk Profile: 1.00%
Gold has formed a long-term Ascending Broadening Triangle price pattern. This price pattern is inherently bearish, suggesting should Gold pe*****te the lower support level of the Ascending Broadening Triangle price pattern (around $1700.00), prices could tumble considerably lower.