In my previous Gold ideas, I mentioned that Gold will break out of the ascending triangle pattern and reach 2025 and I advised you to buy the dips(idea links attached below).
As you can see, price broke out of the ascending triangle and easily reached the 2025 level and went on to touch ATH at 2030. Remember that the ascending triangle pattern formed after an uptrend is a very bullish pattern.
Right now, a consolidation seems likely. So, I would advise not to trade gold at this moment. Instead, wait for a consolidation and pullback to happen.
After some consolidation, we can think about putting new buy entries once again and target the 2050-2070 level as our take-profit zone.
Right now, a consolidation seems likely. So, I would advise not to trade gold at this moment. Instead, wait for a consolidation and pullback to happen.
After some consolidation, we can think about putting new buy entries once again and target the 2050-2070 level as our take-profit zone.
