🔰 Pair Name : XAU/USD
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SELL THEN BUY
From a technical perspective, it is important to highlight that Gold is currently in the process of forming a noteworthy Harmonic Pattern, specifically the bullish Crab Pattern, as discussed previously. As the price approaches the XA 1.618 level, it coincides with the Gold daily/4H/1H Demand zone, approximately around the 1898 area. This presents an opportunity for a retracement to address the market imbalances created over the past few weeks. Our projection suggests a potential price target of 1944, with the possibility of further extension to 1956.7 at the B point-C point, before considering a selling opportunity.
In light of these observations, it is of utmost importance to exercise caution and make well-informed trading decisions, while maintaining a vigilant approach to market dynamics.
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SELL THEN BUY
From a technical perspective, it is important to highlight that Gold is currently in the process of forming a noteworthy Harmonic Pattern, specifically the bullish Crab Pattern, as discussed previously. As the price approaches the XA 1.618 level, it coincides with the Gold daily/4H/1H Demand zone, approximately around the 1898 area. This presents an opportunity for a retracement to address the market imbalances created over the past few weeks. Our projection suggests a potential price target of 1944, with the possibility of further extension to 1956.7 at the B point-C point, before considering a selling opportunity.
In light of these observations, it is of utmost importance to exercise caution and make well-informed trading decisions, while maintaining a vigilant approach to market dynamics.
Trade active
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Price is about to complete the bullish crab pattern today. Watch out buy zone!!Note
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if it's 1 :11, 11:2 trades, you win!!Note
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Take your profit and come back on Monday to enter again after retest!Note
Please see our newest post for gold’s possible Monday move.Note
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We will close our Gold buy trade at 1937-1938 area, press like and comments below if you have been benefited by us. Stay tuned for Gold's next move.Note
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Price will retrace back to 1930.2-1930.4 before going down again. You can sell from thereTrade closed: target reached
Trade active
Back on game! are you on buy again?Note
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Big success!Trade closed: target reached
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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.