XAUUSD is trading in ascending symmetric triangle on its hourly chart.
The price has reached its first target 79%: 1864.29 following with a retest of the breakout: 1826.11.
Symmetric Ascending Triangles tends to retrace once the first targets are reached before resuming the trend to the 2nd targets.
EL: 1826.11
ST: 1812.01
Target2:
127%: 1889.32
162%: 1906.57
The price has reached its first target 79%: 1864.29 following with a retest of the breakout: 1826.11.
Symmetric Ascending Triangles tends to retrace once the first targets are reached before resuming the trend to the 2nd targets.
EL: 1826.11
ST: 1812.01
Target2:
127%: 1889.32
162%: 1906.57
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