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HayatoDragonFX

XAUUSD, 4hr tf, bearish scenario

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
HayatoDragonFX  
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Lines Support and Resistance Elliott Wave XAUUSD xauusdshort xauusdanalysis priceaction priceactiontrading Bearish Flag Rising Wedge Bearish Patterns
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trendline supportandresistance elliottwaves xauusd xauusdshort xauusdanalysis priceaction priceactiontrading bearishflag risingwedge bearish

Possible scenario for XAUUSD.
Price going up inside this channel and the recent drops on Friday confirm a break below the support.

It looks like XAUUSD making a bearish flag or possible rising wedge. If it plays out as bearish flag, the drop on XAUUSD gonna be massive.

This upwards movement is a retest of broken trendline.
We could see XAUUSD continue decline further.

Sell XAUUSD 1815
Stop loss 1825
Take profit 1750 (6.5R)

Use only 1-2% risk
Good luck
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