ABCD pattern in XAUUSD
We did storable a bit to continue to D but with the recent rallies we are well in track of the time it should take to complete CD for AB and CD to be symmetrical.
Since we have crossed B, I'm assuming we are going to get to D and for it to extend little beyond D since it has struggled a bit on the way up.
I like the fact that there's a Fibonacci retracement 0.0236 close to D and I would expect it to be a good entry for a short.
In that order of ideas, we have:
Entry short at 1286.35
Take profit 1 at 1255.00
Take profit 2 at 1229.66
Good Luck.
Since we have crossed B, I'm assuming we are going to get to D and for it to extend little beyond D since it has struggled a bit on the way up.
I like the fact that there's a Fibonacci retracement 0.0236 close to D and I would expect it to be a good entry for a short.
In that order of ideas, we have:
Entry short at 1286.35
Take profit 1 at 1255.00
Take profit 2 at 1229.66
Good Luck.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.