XAUUSD SPOT GOLD LONG SWING Cup & Handle Pattern

2022年8月18日

XAUUSD

The 4H XAUAUD is set up on the finish of a cup and handle pattern

and so bullish continuation is about to ensue.

The chart shows the depth /height of the cup.

I will enter when the basis of the Bollinger Bands reverses into an uptrend.

Stop loss will be outside the LBB at that time or alternatively the recent swing low.

Targets, as drawn to the chart, are the POC of the volume profile, the triple top of June

and the double top of May as also shown with arrows.

I expect this to be a high probability trade for a few months with a high yield compared

with the risk. Teh gold bull run will be fueled by continued inflation the erosion of

dollar value (DXY) as well as fear and the flight to safety (VIX).

What is your opinion ?

2022年8月18日

トレード稼働中

DXY is rising today by over 1% and at resistance ( see my idea for more)-
a rising DXY will put downward pressure on gold bringing it closer to an excellent entry position. Big money pushing the gold price down will entice retail traders to short gold and so setting up big money for collecting more profits when the price
reverses into a bull run. IMO big money cannot grow bigger without perpetuating the money flow from "stupid money"- IMO this is a real example of the concept
at play in the larger markets.