Mihai_Iacob

Gold- Drop- Base- Drop pattern?

Short
OANDA:XAUUSD   Or / Dollar Américain
After the break under 1915 important confluence support that I've spoken about, XauUsd dropped like a stone, with a drop counting 1000 pips.
Although most of us expected some correction after, Gold started to consolidate instead and bulls were unable to elevate the price to confirm the last broken support level at 1855 (at least so far)
The price action from Tuesday looks like it wants to form a "drop-base-drop" pattern and a break of 1810 zone would confirm this scenario.
In such an instance traders could expect a new wave of strong selling and the new led down could lead to a drop at 1730 zone support.
In any case, Gold remains strongly bearish as long as the price is under 1855

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
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.