Friday turned out to be very bearish for Gold . The price lost almost 1,5% of its value.
Analyzing a current intraday price action on 4H, we have a perfect foundation for an ascending triangle formation: so far we have two equal highs and two higher lows.
As we know, ascending triangle is a classic bullish accumulation pattern.
To catch the next bullish wave pay attention to 1900 - 1905 resistance cluster. Wait for its bullish breakout (4h candle close above) as a confirmation. Then buy on a retest with you first goal - 1930 level.
For scalping, consider the boundaries of the triangle.
Being bearish biased, look for a bearish breakout of a trend line of a triangle before you sell.
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only then we buy