We just got the completion of a pattern, with a really low risk and high reward, since the market has gone beyond the completion point of 127.2% Fib extension level. The trade is active now. I would prefer to get out of this setup before getting into the pattern shot, which is also about to be completed. You can decide for yourself whether you want to hold 4 short positions on FX:XAUUSD or 2. Notice that the market has been ranging for quite some time, thus there is a chance that these patterns might work in our favour. See the chart above for targets and stops for both patterns.
That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :)
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Gold, I'm a bit torn, it would take time to break the 1283 resistance, so it can most likely retrace, or go sideways for an extended period of time. Not trading it yet personally.