Quick Update on Gold

Gold peaking out descending triangle – Is it going for $1197?

Posted Monday, August 13, 2018 by
Arslan Butt • 1 min read

What’s up, fellas.

Hard luck with our forex trading signal on gold. It just missed our target of $1210 by 4 pips before closing at stop loss. No worries, we may have another signal very soon. For instance, on the 4-hour chart, gold is violating the descending triangle pattern at $1206. This may lead gold prices towards $1197.

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Gold - 4 Hour Chart

Now, I’m planning to open a sell position below $1,206 to target $1,201 and $1,197. Stay tuned to our forex signals page for latest live signals.

 

 

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About the author

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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