in short term, if XAUUSD creating cup and handle, then gold will have a correction to create the handle, and now we could took short position.
but from wider scope, in my opinion, after gold creating the handle, we could open long position because if the handle confirmed, gold will go further on bullish move.
the weaken USD also the bleeding cryptocurrency made every investors choose gold as safe haven, it will make gold fly higher, possibly 2k. but if any breaking news happened, it will cancel gold's pattern into failure cup and handle pattern. be wise managing risk and rewards.
but from wider scope, in my opinion, after gold creating the handle, we could open long position because if the handle confirmed, gold will go further on bullish move.
the weaken USD also the bleeding cryptocurrency made every investors choose gold as safe haven, it will make gold fly higher, possibly 2k. but if any breaking news happened, it will cancel gold's pattern into failure cup and handle pattern. be wise managing risk and rewards.
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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.