XAUUSD - H1 - Prediction Bullish Rectangle Pattern

XAUUSD - H1 - Prediction Bullish Rectangle Pattern @


Trade:
A trade setup occurs when a price closes outside the trend line after at least two penetrations
on each side of the boundaries. Trades are entered on a follow-up bar at "high above the
breakout bar or "low" below the breakdown bar. Potential Entry Line at @1230.13
Target:
Targets in "Rectangle" formations are based on the depth of the rectangle pattern. The pattern
is reliable, and targets are usually set at 70 to 100% of the depth of rectangle from the trade
entry. at @1236.61
Stop:
Rectangle patterns fail when prices retrace in to the middle of the rectangle channel. Place a
"stop" order just below/above the middle of the channel. at @1226.75