Good day traders,
We have seen the markets turn bearish in the last month, this change prompted me revisiting my Gold/ XAUUSD swing trade analysis. Let's dive in and see what I've found, please share your thoughts in the comments section.
1. I noticed a harmonic bullish ABCD pattern that is forming with point D near our bearish chanel. On all higher timeframes we see a clear confirmation of a bearish pullback to 1478.
2. Our TP1 is set on the Daily timeframe TP which is on the blacksheep at 1774. TP2 is set at 1645 and TP3 at 1498.
3. We are currently approaching our local support, we will have a confirmation to continue shorting #Gold /#XAUUSD there. For now, we are selling to our local support.
Disclaimer
NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
We have seen the markets turn bearish in the last month, this change prompted me revisiting my Gold/ XAUUSD swing trade analysis. Let's dive in and see what I've found, please share your thoughts in the comments section.
1. I noticed a harmonic bullish ABCD pattern that is forming with point D near our bearish chanel. On all higher timeframes we see a clear confirmation of a bearish pullback to 1478.
2. Our TP1 is set on the Daily timeframe TP which is on the blacksheep at 1774. TP2 is set at 1645 and TP3 at 1498.
3. We are currently approaching our local support, we will have a confirmation to continue shorting #Gold /#XAUUSD there. For now, we are selling to our local support.
Disclaimer
NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
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