Phoenix Gold — Issue #3

Even with all this pressure, Gold has found its way to the top. Although there is even more resistance in the path for gold, I believe it won’t affect much…

Gold has been an undervalued asset for quite some time now. From the technical perspective, I can say that there has been bullish pressure recently, the price trends have shifted from Bear to Bull.

Gold this week.

  • Gold to Breakout on Tuesday.
  • Gold bounced back away from the resistance @1739.70
  • Finding support at 1700.

Gold is trying to find support at the 1700 range. If we confirm this by Friday, then there could be pattern formation we could expect.

Ascending triangle pattern formation on xauusd h4 chart

With this pattern, we confirm Gold price movement to the upside. Which allows us to take more positions to the upside.

With that, I conclude this week’s trading plan, Hope you find this interesting and valuable. Thank you for sharing your time with me.

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Investor, Trader and a life enthusiast