XAUUSD Bullish retracement for MN timeframe
Updated
Hi traders,
After a successfull sell off ollowing a sccessful bearish wave we see the XAUUSD/ Gold commoditity pull back on the resistence of our monthle bearish channel. We will now call it our support. The pullback will lead us back to the neckline of our double bottom which was from to complete it. Once completed, we anticipate a massive sell off to the crashing XAUUSD commodity. The second option is that it violated the double top, in this case, we will wait for a tripple top to form and catch it after three confirmations.
#Preciousmetals #XAUUSD #Goldcrash
After a successfull sell off ollowing a sccessful bearish wave we see the XAUUSD/ Gold commoditity pull back on the resistence of our monthle bearish channel. We will now call it our support. The pullback will lead us back to the neckline of our double bottom which was from to complete it. Once completed, we anticipate a massive sell off to the crashing XAUUSD commodity. The second option is that it violated the double top, in this case, we will wait for a tripple top to form and catch it after three confirmations.
#Preciousmetals #XAUUSD #Goldcrash
Trade active
Note
We apologize for all the typo's. Please find a gramatically correct description below:"After a successfull sell off, we see the XAUUSD / Gold commoditity pull back on the resistence of our monthly bearish channel, we will now call it our support. The pullback will lead us back to the neckline of our double top which was formed earlier this year. Once completed, we anticipate a massive sell off on the crashing XAUUSD commodity. The second option is if it violates the double top, in this case, we will wait for a tripple top to form and catch it after three bearish confirmations. "
Thanks for understanding.
Regards,
NASDAQ Guru team.
Trade closed: target reached
TP HIT
Related publications
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.