XAUUSD might continue it's rally to test the downtrend once again. It might then bounce back and start wave (y). I will be looking for a bearish reversal pattern to confirm the start of the downtrend.
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Possible double top pattern. A breakdown of 1240 should confirm it.
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Adam and Eve pattern, another form of double top.
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Clear breakdown.
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Broken uptrend. Let's watch those levels in blue.
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