InsiderB
Short

XAUUSD : Counter Trend - ABCD Pattern

FX:XAUUSD   Gold Spot / U.S. Dollar

Note :

Fed meetings minutes will be released in another 10hrs. So XAUUSD             may consolidate till that time and if Fed defers interest rate hikes Gold             will move little up / may take out our stops.

If Fed decides to treat us with surprise Interest rate hikes Gold             will come down drastically.

The ABCD Pattern formation is right @ resistance zone which gives more confirmation to take the trade. Also there is Bearish Divergence in RSI when XAUUSD             nibbling around same levels.

Happy Trading !
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