XAU/USD: the triangle will be a judge

XAU/USD: the triangle will be a judge

Recommendations:

SELL $1268 SL $1280 TP1 $1237 TP2 $1212

BUY $1287 SL $1275 TP $1310 TP2 $1321

On the daily chart, XAU/USD formed a triangle. A break of its upper border close to $1266 an ounce will return the price inside the downtrend channel and increase the odds of achieving 78.6% and 200% of Gartley and AB=CD. On the other hand, successful test of resistance at $1288 will revive hope for the uptrend’s resumption.

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On H1, XAU/USD formed a “Widening wedge”. Traders can bet on the break of $1268-1287 range.

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