XAUUSD Daily Island Reversal, Bearish Shark
Am short looking for two targets to re-establish longer term long positions
Final short target will be the 78.6% retracement which is also a gap close and the zone for a 2618 trade
If it gets there I am planning to buy again into a longer term position long
Market may be forming a weekly triangle and the $41-$42 high may be resistance going forward so will take partial profits on any longs prior to this and play the range
Final short target will be the 78.6% retracement which is also a gap close and the zone for a 2618 trade
If it gets there I am planning to buy again into a longer term position long
Market may be forming a weekly triangle and the $41-$42 high may be resistance going forward so will take partial profits on any longs prior to this and play the range
Trade closed: target reached:
Target 1 hit, trailed second stop to BE
Comment:
This pattern could better be described as a Nen-star pattern at 127.2% extension of X-A
Final target lower is 29.64 based on the gap here although not sure if it will reach it... we will see
Final target lower is 29.64 based on the gap here although not sure if it will reach it... we will see
Minor Oversight as currently swing short both.... technical view on this is unchanged