Folks,
Opportunities are givin' everyday, all day.. You have to train your mind to be open for it..
That said. Here is Symmetrical triangle forming on the daily chart of Gold.
Gold has made a massive run lately and is consolidating now..
What's important to trade a symmetrical triangle? Define the prior trend, because more often than not, when this triangle breaks out it will in the direction prior to start forming the triangle.
And you know, all about probability.
A lesson from Sir Al Brooks.. He doesn't believe in fibonacci numbers while price is retracing. He believes that when a price pullbacks between 30%-50% the prior trend is still in tact.
So for this chart it would be a possible upside breakout.
When it pullbacks more than 60% it will be a possible 50-50 chance..
Feel free to comment and if you like the content you may follow for more beautiful to come. I am learning everyday more and more and hope to help others get better to, for free.
Opportunities are givin' everyday, all day.. You have to train your mind to be open for it..
That said. Here is Symmetrical triangle forming on the daily chart of Gold.
Gold has made a massive run lately and is consolidating now..
What's important to trade a symmetrical triangle? Define the prior trend, because more often than not, when this triangle breaks out it will in the direction prior to start forming the triangle.
And you know, all about probability.
A lesson from Sir Al Brooks.. He doesn't believe in fibonacci numbers while price is retracing. He believes that when a price pullbacks between 30%-50% the prior trend is still in tact.
So for this chart it would be a possible upside breakout.
When it pullbacks more than 60% it will be a possible 50-50 chance..
Feel free to comment and if you like the content you may follow for more beautiful to come. I am learning everyday more and more and hope to help others get better to, for free.