Fxprotrader
Short

Gold Sell Setup Coming Soon & A Pending Cypher

FX:XAUUSD   Gold/U.S. Dollar
Gold             is moving in sideways into a rising wedge pattern and with MACD bearish divergence we might soon have a price reversal to the down. Most likely price is going to reach the 1.27 fib extention level of the previous impulsive wave so we might have some more up and down into this wedge.

When price breaks below the lower bond of the pattern we should watch for a sell setup to complete and go short. Lower in structure we have the completion of a bullish cypher and perhaps price may reach it's D point and reverse. The cypher will be valid if price in the wedge reaches the 1.27 fib ext.

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Vytasbcn
5 months ago
I do agree with that
Reply
Fxprotrader PRO Vytasbcn
5 months ago
That's great, thank you
+1 Reply
marketplaceguy
5 months ago
Great analysis..
Reply
Fxprotrader PRO marketplaceguy
5 months ago
Thank you mate
Reply
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