mater
Short

One of the strongest reversal patterns in EW!

FX:XAUUSD   Gold/U.S. Dollar
Probably the strongest reversal patterns in EW! Wave-5 completion confirmation and just waiting for the price to fall below trend line to go short on Monday
My 2 cents. I am gonna publish soon after fine tuning. Interesting thing is that MACD is just about to go positive.
snapshot
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I'm getting a similar result with the Symmertric Triangle, will wait until 1268.5, also likely pullback once it breaks. Sl 1279-80, TP 1242, watching 61.8 fib. Also, however, a possible is a long from the support ie 1271-72, sl 1268 w, TP 1295-97.....could be a hedge bet!! No need to rush it though, surely there's no catalyst, before Wednesday? So many different opinions here.. Problely 80% bears 20% bulls. Cheers good luck...just my thoughts
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robus Ronnee
1285-1295 is rocky road.
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Ronnee robus
For sure it's all rocky at present,,only TP,,if it goes up, ups up and you in profit if u have gone that way...can't really see a long yet,but 1304 is on if it does..cheers..
+1 Reply
robus Ronnee
yay ! two cheers for 1304. I am long from 1205. although it remains elusive. \m/
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Thanks buddy! As per my understanding, If 1285 happens, its great news for Bulls because we're are looking at 1320 range in that case
I think we should keep the 13XX for Brexit week (anxiety!!??) to give us the push above 1320+ but 11XX seems more realistic for next couple of weeks. Lets wait for a confirmation on Monday because next 3-4 H4 candles will be very important (at least from this pattern's perspective)
+1 Reply
Ronnee mater
Absolutely,, needs to break with conficition for me, or other,,,,watch, waiting......careful..good luck.
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Will it be retrace or reversal !? What is your target downside ?
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Its a reversal because 1200 was W-3 and we just completed the ABC correction (which turned out to be a nightmare) with this impulse as C
so as per my EW counts, its headed towards 1170 range in next couple of weeks...
I think next few days should give us a sharp fall to 1230-40 if we look at historical reversals with this kind of pattern
+1 Reply
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