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TFC Commodity Trading Forum

April Gold/ Explosive Pattern *PIC*

April Gold has formed a Symmetrical Triangle and is at the point where price tends to breakout 'before' going to the apex of the triangle. While these patterns are said to have no direction unlike Ascending Triangles or Descending Triangles, Symmetrical Triangles are 'continuation patterns' which means if the trend has been up during its creation odds are 75% that the breakout will be on the upside. So the story goes according to the good book on them. And DX has a strong seasonal tendency to selloff through December which tends to help Gold rally as well. Bottom line watch the converging trendlines for direction. With the financial chaos going on in the world most anything can occur.