XAUUSD is forming a contracting triangle of wave X.
Timeframe: 1 day chart
XAUSD has created a corrective pattern W-X-Y (double three) on the wave (4).
Wave 4 is forming double three patterns, where gold has completed wave W.
Wave X is a contracting triangle.
Bears can enter after the breakout of the B-D line.
Breakout of the B-D trendline shows that gold can fall very sharply.
Sometimes, The market creates unexpected moves, and we miss the opportunity.
If gold blows out the A-C trendline of the triangle, then we should be ready to change our bias from a bull into a bear.
Within this consolidation box, Gold illustrates unbiased strength.
I have mentioned important levels on the chart.
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XAUSD has created a corrective pattern W-X-Y (double three) on the wave (4).
Wave 4 is forming double three patterns, where gold has completed wave W.
Wave X is a contracting triangle.
Bears can enter after the breakout of the B-D line.
Breakout of the B-D trendline shows that gold can fall very sharply.
Sometimes, The market creates unexpected moves, and we miss the opportunity.
If gold blows out the A-C trendline of the triangle, then we should be ready to change our bias from a bull into a bear.
Within this consolidation box, Gold illustrates unbiased strength.
I have mentioned important levels on the chart.
Press the like button to encourage my work.
Follow me for more ideas.
Trade closed: target reached:
Gold made traders jocund.
Gold is marching for final target.