Mahtab_Tradia

XAUUSD Reversal Pattern

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
As you see in the chart, there is a sharp downtrend which is in a very slow bullish correction phase in the form of a reversal head and shoulders pattern.

The neckline is between daily (1793) and weekly low (1789) and if it broken out to the downside, we can expect a fall at least as the same size as the pattern’s head (1750).

Generally, I’m on the bearish side for XAUUSD . What about you?
Feel free to share your ideas in the comments.
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Comments

Sorry but no , gold is clearly up from long time and you changed your previous analysis which was right
+6 Reply
@paul2k99, I agree with paul2k99. So many people were overly bearish despite gold having its best bull run in a decade.
+3 Reply
4 hours chart cup pattern formed . Hope XAU move to next resistance easily
+5 Reply
still short??? he on 1831 now
+4 Reply
I don’t know why you said that
+3 Reply
Wrong, again. It was obvious that the Fed was not going to raise rates. To do so would influence the midterm election, spark political war and cries to strip the Fed of independence and put it under congressional oversight. The Fed also defined transitory inflation as rate of change, meaning inflation may stay up indefinitely, but can still be called transitory as long as it doesn't go up as fast.
+3 Reply
thanks for sharing your great idea
+1 Reply
i think gold will touch the big weekly trend line.. then bounce up
+1 Reply
Beautiful Chart!
Reply
Why the fuck would you be bearish. Look at the DXY . The shit is going to like 75 -80 on the DXY soon.
Reply