Gold - Triangle Pattern Broken
Possible target 78.6% retracement around 1215-1220.
Two methods to estimate the extent of the move after the breakout. First, the widest distance of the symmetrical triangle can be measured and applied to the breakout point. Second, a trend line can be drawn parallel to the pattern's trend line that slopes (up or down) in the direction of the break. The extension of this line will mark a potential breakout target.
ADP and FOMC Interest Rate Decision on Wednesday, NFP Friday and French Elections this weekend.
Trade Safe
Two methods to estimate the extent of the move after the breakout. First, the widest distance of the symmetrical triangle can be measured and applied to the breakout point. Second, a trend line can be drawn parallel to the pattern's trend line that slopes (up or down) in the direction of the break. The extension of this line will mark a potential breakout target.
ADP and FOMC Interest Rate Decision on Wednesday, NFP Friday and French Elections this weekend.
Trade Safe
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