Looked using a weekly chart gold is moving inside a triangle formation. A triangle formation is nothing else than a corrective phase. That together with a triangle formation mean indecision, doubt.
That indecision is resolved when price brokes out to the upside or the donwside.
There is also one nice feature near a triangle vertix: Risk lowers, maximizing reward. That is what is happening here.
It may take weeks, but when this triangle is resolved there is a great opportunity to profit because the potencial move is huge.
That indecision is resolved when price brokes out to the upside or the donwside.
There is also one nice feature near a triangle vertix: Risk lowers, maximizing reward. That is what is happening here.
It may take weeks, but when this triangle is resolved there is a great opportunity to profit because the potencial move is huge.