Gold (XAUUSD) Reached Bearish Targets, Here Are Updated Levels
Traders, Please refer to the weekly gold analysis posted over the weekend which explained the bearish scenario. If needed, refer to previous weeks's analysis too.
Gold has filled 2 gaps and is about to fill another gap in few moments. This is creating an M pattern (blue)and is also trying to challenge a bigger M pattern's mid point (white pattern)
Because of the blue pattern and because of the mid ping of the white pattern, gold can move up. Targets are in white horizontal lines above the current price.
If the mid white pattern's mid ping is broken and confirmed, gold can fall to lower completion levels. Targets are horizontals lines and zones.
Few gaps are still open. Refer to the previous chart below for them:
Trade what you see and ignore any hypes. Stay objective.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don't hesitate to share your ideas, comments, opinions and questions.
Take care and trade well
-Vik
____________________________________________________
📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
____________________________________________________
Gold has filled 2 gaps and is about to fill another gap in few moments. This is creating an M pattern (blue)and is also trying to challenge a bigger M pattern's mid point (white pattern)
Because of the blue pattern and because of the mid ping of the white pattern, gold can move up. Targets are in white horizontal lines above the current price.
If the mid white pattern's mid ping is broken and confirmed, gold can fall to lower completion levels. Targets are horizontals lines and zones.
Few gaps are still open. Refer to the previous chart below for them:
Trade what you see and ignore any hypes. Stay objective.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums.
✅ Follow me for future ideas, trade set ups and the updates of this analysis
✅ Don't hesitate to share your ideas, comments, opinions and questions.
Take care and trade well
-Vik
____________________________________________________
📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
____________________________________________________
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