The XAU/USD pair has recently formed a Bullish AB=CD pattern, indicating a potential reversal in its prior downward trend. Since it has already broken point B we will take immediate entry for short and watch the price action at point D which is a potential reversal zone. If divergence is found at point D we will enter for long.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.