Hello guys . May I be pleased be helped with this Pattern on XAUUSD(gold) .
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On the D1 chart gold is in a well established and consistent downtrend - bearish.
Yesterday’s range made a new low but it was also an outside bar, which went higher than the previous day’s range - bullish.
In fact it also closed above it - bullish.
Price action this morning has been bullish and found support after a minor pull-back. The first long entry opportunity was immediately after the pull-back but a second buying opportunity should be seen if price breaks out from the triangle pattern just now coming towards completion.
I don’t usually trade intra-day so others may have varying ideas.
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