Traders:
We have finally see some resistance on XAUUSD (GOLD) on the daily chart around 1255.00 area. We are also seeing a potential Daily Head and Should pattern developing, and today we can see the price action form the right shoulder, confirming the bearish momentum.
1 HR chart has a double tops, and broke down support trend line. We can wait for a lower high to develop, and a mini head and shoulder pattern to present itself before shorting.
Target 1: 1244.50 (2% Profit)
Target 2: 1234.00 (4.1% Profit)
Target 3: 1220.00 (6.9% Profit)
Thank you for your support and feedback.
We have finally see some resistance on XAUUSD (GOLD) on the daily chart around 1255.00 area. We are also seeing a potential Daily Head and Should pattern developing, and today we can see the price action form the right shoulder, confirming the bearish momentum.
1 HR chart has a double tops, and broke down support trend line. We can wait for a lower high to develop, and a mini head and shoulder pattern to present itself before shorting.
Target 1: 1244.50 (2% Profit)
Target 2: 1234.00 (4.1% Profit)
Target 3: 1220.00 (6.9% Profit)
Thank you for your support and feedback.
Note
Note
No trade taken as the FOMC minutes spiked up the price action.
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.
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.