Greetings everyone, triangles are patterns that are favorable in my opinion to traders as they are easy to recognize, and offer a lot of opportunities for the short-term and the longer-term. For the short-term they provide a nice short-term trade signal depending on the direction of the breakout. Most breakouts are not fake in my experience. As far as the longer-term is concerned, triangles usually precede the final move of a trend so we could also get a hint that an entire trend could soon be over. I have spotted triangles in Gold targeting $1,280-$1,300, USDX targeting 96 and EURUSD targeting 1.13.50. Below are the charts.
If trend continues as it did in the past few days, their targets will be as mentioned above as the breakout will be in the direction of the previous trend.