- Gold is moving in an ascending triangle of sorts showing that it is close to reaching the top of a very key resistance area from which we can look for shorting opportunities.
- It is possible that it may break this resistance area, so to be on the safe side I will be looking for rejection candles towards the top such as a strong doji or evening star candlestick pattern to enter the trend
- Looking to the left we can see that the peaks of these triangles have both formed head and shoulders patterns which is something else I will be looking for in the next move within the coming days.
- This is all assuming that resistance isn't broken and that there is sufficient momentum for the move.