XAUUSD: Gold Coiling for a Potentially Explosive Move

From dailypriceaction.com

Gold has some of the best technicals around. The market is carving its first higher high since August 2020 and has some very clear horizontal levels. The last 20 months are similar to the price action between 2011 and 2019, only much smaller. Notice the rounded bottom that’s forming above 1680 and how similar it looks to the 2011 to 2019 action. XAUUSD also recently broke out from a triangle pattern at 1850. The objective of that pattern would take gold up to 2050. So we know we have a confirmed breakout and the first higher high since August 2020. That means I only want to look for longs as the momentum has ... (full story)