{"id":63654,"date":"2014-11-13T08:27:38","date_gmt":"2014-11-13T13:27:38","guid":{"rendered":"http:\/\/countingpips.com\/?p=63654"},"modified":"2014-11-13T08:41:55","modified_gmt":"2014-11-13T13:41:55","slug":"triangle-congestion-warns-of-imminent-gold-breakout","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/triangle-congestion-warns-of-imminent-gold-breakout\/","title":{"rendered":"Triangle Congestion Warns of Imminent Gold Breakout"},"content":{"rendered":"<div id=\"inves-3501800181\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 13, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Neutral<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Daily ranges on Gold are contracting after a couple of extremely volatile weeks;<\/li>\n<li style=\"text-align: justify;\">Unemployment Claims, JOLTS Job Openings and Fed Chair Yellen Speaks are the main events that could drive the U.S. dollar and Gold on Thursday;<\/li>\n<li>Long term trend remains bearish, but this triangle break could go either way for now.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>After a huge 10% tumble over the course of two weeks, followed by a 38.2% swing correction, Gold traders are battling it out in a triangle formation.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/11\/Gold13thNovember1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7797\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/11\/Gold13thNovember1.jpg\" alt=\"Gold13thNovember1\" width=\"700\" height=\"357\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Although long-term we can only see Gold as extremely bearish, based on lower swing lows and lower swing highs, aggravated by fresh multi-year lows priced during the month of November, price action is free to move in any direction in the short-term. Spot gold is currently around $1,162 ahead of the 13<sup>th<\/sup>\/11 U.S trading session, approaching the tip of a triangle formation. This warns us of an impending break-out in the coming hours.<\/p>\n<p style=\"text-align: justify;\">U.S. Dollar gains have severely overextended in recent weeks, making the currency very sensitive to any releases that come up short when compared with the general consensus. A correction above 1.2500 EUR\/USD should be mimicked by a bullish breakout in Gold above $1,167, targeting $1,178 \/ $1,182, with extended potential up to $1,193 \/ $1,207 within a couple of weeks.<\/p><div id=\"inves-1751971365\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/11\/Gold13thNovember2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7798\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/11\/Gold13thNovember2.jpg\" alt=\"Gold13thNovember2\" width=\"700\" height=\"357\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">On the other hand, a bearish break below $1,154 should trigger a volatile downtrend continuation. For this scenario, Gold will most likely eye a re-test of $1,131 within a very short period of time as the initial swing. Afterwards, there is a very high likelihood for another break below while price seeks a Lower Low somewhere in the $1,074 region.<\/p>\n<p style=\"text-align: justify;\">****<\/p>\n<p style=\"text-align: justify;\">Technical Analysis provided by <a title=\"Capital Trust Markets\" href=\"http:\/\/capitaltrustmarkets.com\" target=\"_blank\">Capital Trust Markets<\/a><\/p>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Neutral Key Takeaways Daily ranges on Gold are contracting after a couple of extremely volatile weeks; Unemployment Claims, JOLTS Job Openings and Fed Chair Yellen Speaks are the main events that could drive the U.S. dollar and Gold on Thursday; Long term trend remains bearish, but this triangle break could go either way [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-63654","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=63654"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63654\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=63654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=63654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=63654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}