Gold – Triangle Pattern Broken Down; 1268.50 in Focus | Forex Factory

  • Gold – Triangle Pattern Broken Down; 1268.50 in Focus

    From forexminute.com

    Gold has been consolidating in a triangle for over a month now as you can see in the 4H chart. The moving averages clustered, reflecting a directionless market. As the 5/27 European session got underway, traders pushed down gold price from around 1295 to about 1283 by 7:00AM ET. As we get started with the US session, traders will be seeing a breakdown of the triangle, which opens up the 1274 then 1268.50 support pivots in the very short-term. The daily chart shows that the market has been bearish prior to the formation of the triangle pattern. The breakdown can extend this bearish trend below the triangle low of ... (full story)

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pt49
May 29, 2014 6:36am
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Quoting dansunny-fx
indeed...
https://media.dailyfx.com/illustrati..._Picture_7.png

but I'm going to trade d bounce off this 61.8 Level
well, that didn't work did it?
Reply
pt49
May 27, 2014 5:36pm
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$1,180...

as long as it stays above 1180 the WEEKLY triangle stays intact.
Reply
pt49
May 29, 2014 6:36am
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Quoting Guest
will i think its time too show patience..............
YES!!!
Reply
pt49
May 29, 2014 6:37am
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Quoting paulw
1250 is where I will consider buying
REALLY!!!

???
Reply
pt49
May 29, 2014 6:38am
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Quoting Ringkon
Thanks for an idea.
Be patient... afterall, gold may break out BELOW the weekly triangle!

Regardless, $1,180 is key for Gold

... and $18.16 is key for Silver!
Reply
paulw
May 28, 2014 3:30pm
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1250 is where I will consider buying
Reply
upasna
May 27, 2014 6:59am
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Good time to buy Gold
Reply
Ringkon
May 27, 2014 4:10pm
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Where it will go down? 1250? 1260?
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Ringkon
May 27, 2014 5:31pm
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Quoting culibate
maybe 1000 or lower (:
You mean 1100?
Reply
Ringkon
May 27, 2014 5:38pm
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Quoting dansunny-fx
Same thought too
Its a real bad time to buy, I am almost dead. Wait and take an order below 1250. My opinion
Reply
Ringkon
May 27, 2014 5:40pm
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Quoting pt49
$1,180...

as long as it stays above 1180 the WEEKLY triangle stays intact.
Thanks for an idea.
Reply
dansunny-fx
May 28, 2014 3:33am
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Quoting Ringkon
Its a real bad time to buy, I am almost dead. Wait and take an order below 1250. My opinion
indeed...
https://media.dailyfx.com/illustrations/2014/05/28/Gold-Aiming-Lower-as-Prices-Finally-Validate-a-Bearish-Chart-Formation_body_Picture_7.png

but I'm going to trade d bounce off this 61.8 Level
Reply
Samand
May 27, 2014 10:47am
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It may go down to $ 1210.
Reply
Paras4you
May 27, 2014 7:51am
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My Buying level would be at $ 1269 only if it stay above $ 1268. Break of $ 1268 will confirm that price would go down to $ 1250-55.
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dansunny-fx
May 27, 2014 10:08am
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Quoting upasna
Good time to buy Gold
Same thought too
Reply
longroad
May 27, 2014 7:35am
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I am short gold and have been for 4 days I think it will not turn around for a few weeks yet.
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Bankerssuck
May 27, 2014 8:10am
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Buy physical not the paper garbage which has no hope.
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culibate
May 27, 2014 5:29pm
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maybe 1000 or lower (:
Reply
Trader#E307
May 27, 2014 7:13am
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Good time to stay away and wait for confirmation or come back if false one
Reply
Trader#4816
May 28, 2014 5:01am
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will i think its time too show patience..............
Reply

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