From TradingView · · 1m 20s
Gold dips to 4160 first, then rips higher
A TradingView trader reads a triangle on gold and calls the sequence: one more drop, then a run up.
In brief
A TradingView trader reads a triangle on gold and calls the sequence: one more drop, then a run up. The call is a two step move, a dip toward 4160 and then a push higher, built on a triangle pattern and nothing else. Originally reported by TradingView.
A long with a detour
Trader AlawiMuthana7 files this gold idea as Long, but expects the price to fall before it climbs. Down first, up second.
The triangle is the setup
The whole read rests on a triangle forming on the XAUUSD chart, the kind of squeeze that tends to break hard once it resolves.
“The triangle pattern I thing it's gonna come back down even to 4160 than back up way up”
4160 is the line
That is the level gold may revisit on the way down. It doubles as the spot to watch for a bounce if the idea plays out.
Then back up, way up
After the retest the author looks for a strong move higher. No price target is given for the upside, only the direction.
One chart, thin thesis
There is no macro argument here, no catalyst, no stop. A pattern and a number, posted eight hours ago, with 120 views behind it.
Not advice, by the way
TradingView is explicit that posts like this are not financial, investment or trading advice. Verify the level on your own chart before acting.
“The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice”
Here's the gist
The call is a two step move, a dip toward 4160 and then a push higher, built on a triangle pattern and nothing else.
