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Utis Jamnongsatr
in
Forex
May 11 10:11

Gold / XAUUSD Analysis - Pennant Pattern looking for breakout target 1960-2000 USD

Gold 4H forming Pennant pattern
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Gold in Daily and 4H timeframe price is moving between triangle in the are of Channel Resistance, consider prior trend in multi-timeframe still having Long Bias with this Pennant triangle where flag pole starting from 1,450$ if price is able to break, long term target is around 1,960 - 2,000$/Oz
Gold D1 hovering on channel resistance
🔻 Recommend trade is looking to Buy from lower support of triangle @1680 still need more stop loss distance, or alternatively looking to Buy from Daily Demand Zone 1660 - 1640$
Gold Weekly chart
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