FX:XAUUSD   Gold / U.S. Dollar
Market has just broken below the trendline . If it can close below this trendline , it is highly probable that price will continue to fall towards 1260 and potentially 1240. If it bounces back up and close within the mother candle on 28 Aug, the probability will be towards higher prices, potentially re-testing 1320             level and 1340 level.

Note that there is also a potential bullish Gartley pattern forming with potential completion around 1262. (This idea is from hungvutrader)

As noted on the chart, I'm currently short on gold             . If the latter scenario above occurs, I will not want my short position anymore and potentially flip it to long. If this market continues to fall, complete the Gartley pattern and reverse, I will also get out of my short position. Otherwise, I will hold until my target.
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out