Bandarsq
Short

Gold Seeks Lower Levels Below 1150

FX:XAUUSD   Gold / U.S. Dollar
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.
Comment: Possible double top pattern. A breakdown of 1240 should confirm it.
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Comment: Adam and Eve pattern, another form of double top.
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Comment: Clear breakdown.
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Comment: Broken uptrend. Let's watch those levels in blue.
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Thanks for posting, Bandarsq!
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AlphaDreams AlphaDreams
Waiting for next week's best entry point short. Closed my longs a little early (1240) but felt it was great profit.
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Bandarsq PRO AlphaDreams
Indeed it was so great :) Thanks for the comments.
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I like this, and I am also looking for 1254-64 ill probably start my first short position at 1254 and see how far the rabbit hole goes nice chart btw
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I will keep an eye on the selling power and update.
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Long
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Maybe.
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Thanks bro
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Bandarsq PRO CGMTraderFx
Most welcome.
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Thanks bandarsq. But with bad NFP data -> probable no go for rate hike in June, doesn't that mean Gold should stay up, at least above 1205?

Just don't see why it would go to 1150.. :(
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Bandarsq PRO austinchan
The reason is pure technical, wave Y.
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thank you
mr Bandarsq Analyst're awesome
There is a point
Your opinion the range of TP-1170 is not suitable?
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Thank you Mr. Vahid :)
If this approach is correct then wave (y) deserves lower targets below 1150.
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Awesome, thanks for the updated chart
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Thank you :)
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nice chart. I have different count on different degree, caught nice trade on Friday though. (Haven't labelled waves in any degree)
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Nice trade ;) It seems that wave C has an extended wave 1.
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still learning EW and im sure there are errors, but what's great about it is the structure/ patterns to trade from.
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The last ABC you have, C is short and as you know it should go below A. Hence it's a triangle ABCDE.
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tst Bandarsq
Thanks Bandarsq, like I said still learning. EW has that level of perspective that looking at structure at different degrees you can see waves within waves combining to form the triangle and I found myself on the right side of the market :) at the right time.
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Check the comment too
XAUUSD SHORT TERM BUY SETUP
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Bandarsq PRO Zohaib_Malik
Thanks for sharing.
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really good homeworks bud
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Bandarsq PRO sharktrade
Hope it works. Thank you.
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Thanks for this. Your point of view I always take into account. No doubt, your analysis is top notch.

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My pleasure. Thank you : )
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I am looking this chart very closely, that where does this X end. I personally I like this to reach 1292 at least but based on our chats that Y is always longer than X wave. Do you think this sink as far as 1050 !?
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I strongly think it will do reach 1150. Other scenarios suggest lower prices.
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Hey Bandarsq, do you still believe we will be going down? I am currently short (JDST) and you chart looks pretty good.
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Bandarsq PRO nnavarrete
Yes I do.
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that dose not look good...
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Not good at all. Blame it on Brexit ; )
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