Expecting an alternative bull bear pattern in Gold. Remain scalp until we reach the target. An alternative BAT bull in place to cheer for bears @ 1254-40 target. However overall gold is in range this week
My preference to stay neutral until FOMC announcement. We found there are a lot of bearish sign on gold. However leaving this area takes a lot of time. The ranging market is going to change into a trending market sooner than later.
Gold Capped by inverted CUP. 77757 should be the support when we break down 81500
This structure looks to me "Ascending and Inverted Scallop pattern". Please comment if I am wrong You can read about this pattern from here :)
USD/CAD correction should last to the breakout point of the B leg of BAT. Then it start to pick it up for final wave to complete the BAT.
This is much easier than xau/usd :) No Comment :)