Hey Guys, As we have predicted previously Gold XAUUSD trapped into our marked resistance & support zones and cudn't break any of it, so its bouncing back within the same region. Now in current scenario we have potential bat pattern formation which will gives us chance to go long and if XAUUSD comes upto 1320's we have trendline and resistance zone retest with formation of double top a good chance to enter short in Gold. So whatever happens we are ready with our plan, let watch what happens....
Hit Likes if you agree... For previous post about XAUUSD ranging prediction check related ideas below... Thanks for your support...Happy Trading !!
Kommentar
⋅
Wait for valid bearish close in resistance zone or double top completion to enter short
I would really appreciate your input on below chart. I know anything is possible, but just for my knowledge, why do you think there is less chance of breakout long.
InsiderB
⋅
Hi Mukkarramali, Thanks for sharing your idea.. I have couple of points here to add, lets go with your chart : If strong close happens above Blue trendline channel, Gold can move into short bullish mode but will face resistance @ 1330's which is also mentioned in prev. idea. If Gold takes out 1330's with full force & sooner the better bullish mode. This double top & smaller resistance on my chart is to trade between 1300's to 1330's range only,not long term.
mukkarramali
⋅
Cool, I get it. Thanks for your help, I'm learning so just trying to have better understanding of how to interpret charts and market signals. I'll look out for the double top you've pointed out. Thanks again for your valuable input.