XAUUSD in Symmetrical Triangle | 6 May 2020

XAUUSD is in a symmetrical triangle. In stead of playing a breakout in either direction, we decided to play a possible reversal in the triangle as there's no signals for breakout in any time soon. 78.6% and 88% Fibonacci retracement are important triangle retracement levels that we used to identify the levels.

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Commento:

Trade attivo:

we are in the trade, price is now testing the upper band of the triangle. If price breaks out of the triangle, we will invalidate the idea!

Commento:

This is the updated idea!