Gold - A Pennant Forming

12 mar

XAUUSD
is on a necessary consolidation path towards a burst-up
Over the last 3 weeks, it has consistently hit higher lows - while capping at 2920 -30. This looks like an ascending triangle. It remains to be seen how soon this opportunity would pan out. However, our analysis is seeing a breakout about the 292-30 level. Above which the laws of retracement and expansion would take place.

We should remember that with all that is going on the the world now, wars, tariffs, recession expectations, GOLD is always the failure-less option!

Not getting over ourselves, we would love to see more pullbacks to help push the direction to new ATHs.

Hence
Entry - 2906, 2881, 2849.
Sl - 2903, 2879, 2845.
TP - 2975, 3005, 3035,


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13 mar

Trade attivo

The entry of 2906 was spot on. We are looking at a break above current support at 2930. It should pull back a little and go past it rapidly, ceterin paribus. Else if the resistance cakes for a few hours or more than a day, it might sell to retest where it broke out from earlier.

Remain at the buy. Close out if it goes below 2920.
New buy entries above 2930.

19 mar

Trade chiuso: obiettivo raggiunto

Target reached at 3035.