{"id":7993,"date":"2010-03-26T08:59:41","date_gmt":"2010-03-26T12:59:41","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7993"},"modified":"2010-03-26T08:59:41","modified_gmt":"2010-03-26T12:59:41","slug":"forex-technical-analysis-spot-gold-triangle-pattern","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/26\/forex-technical-analysis-spot-gold-triangle-pattern\/","title":{"rendered":"Forex Technical Analysis \u2013 Spot Gold \u2013Triangle Pattern"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; A triangle pattern has formed on the daily chart for spot gold.  Traders may be able to take advantage of this pattern by trading in a  predictable price range in anticipation for the breakout in spot gold  prices.<\/p>\n<p>The lower line of the triangle begins at  the start of the previous bullish trend on March 6th. The downward  sloping line of the triangle begins at the swing high of daily chart at a  price of $1224.70, extending lower to form the vertex of the triangle.  Forex and commodity traders may want to go long with a price target at  the descending trend line above the price action.<\/p>\n<p>It is also possible to find other patterns here on the chart. One can  see a channel pattern that has formed, a descending triangle, along  with a reverse head and shoulders pattern. The reverse head and  shoulders could signal break of the downward trend and a significant  future price appreciation. This price pattern will be presented next  week in a future forex technical analysis.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/03\/Spot-Gold-Daily-Chart.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/03\/Spot-Gold-Daily-Chart.JPG\" alt=\"\" width=\"571\" height=\"571\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex     Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and     may not be suitable for all investors. There is a possibility that   you   could sustain a loss of all of your investment and therefore you    should  not invest money that you cannot afford to lose. You should be    aware of  all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; A triangle pattern has formed on the daily chart for spot gold. Traders may be able to take advantage of this pattern by trading in a predictable price range in anticipation for the breakout in spot gold prices. The lower line of the triangle begins at the start of the previous &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/26\/forex-technical-analysis-spot-gold-triangle-pattern\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 Spot Gold \u2013Triangle Pattern&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7993","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=7993"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7993\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}