Gold has been in trouble in the past few years but was attempting to bounce since the start of this year. Prices were moving up both in short and medium term. The
The potential targets are shown on the present chart. The yellow lines show the ascending channel itself. The cyan line situated below the channel (namely, 10 percent of the channel’s width below the channel) and suggests an entry point for short positions. The green line suggests the
Click the image to enlarge it to a
You can download the MetaTrader 4 chart template for this pattern.
If you have any questions or comments regarding this chart pattern for oil, please feel free to reply below.