Gold signal hits the take profit – Triple top on the cards! - Forex News by FX Leaders
Gold - Triple Top

Gold signal hits the take profit – Triple top on the cards!

Posted Friday, August 24, 2018 by
Arslan Butt • 1 min read

What’s up, traders.

I hope you enjoyed our forex trading signal on gold. The yellow metal traded exactly in line with our forecast Gold testing 20 MA – $1,188 a crucial level to trade today. What’s next?

Gold - 2 Hour Chart

Gold – 2 Hour Chart

Taking a look on the 2-hour chart, gold has crossed above 20 -periods moving average which is signaling the bullish trend in gold. At the moment, gold is trading near $1,191 and it’s likely to go after $1,194 and $1,197 upon the violation of triple top pattern. The pattern is extending a strong hurdle at $1,192. Once again, I will be looking to stay bullish above $1,188 to target $1,197.

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About the author

Arslan Butt // 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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