aceofswords
Short

SHORT XAUUSD

FX:XAUUSD   Gold/U.S. Dollar
123 2 1
Bearish Pennant on Gold             H1, From 1297.34 down to between 1289.46 & 1287.85
coopfx
2 years ago
Well done on the sell.

One question: Would the bullish pin @ 7-24 6:00 void the pennant and make gold a short-term buy?
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aceofswords coopfx
2 years ago
I know this answer is now in 'hindsight' , but generally speaking, if PA reacts to my support resistance levels as or exit 'points' accurately as it did in this instance , I would take note and act on further confirmations, such as the subsequent tails produced at 7-24 14.00 & 15.00 and would look to buy based on the resultant candle at 17.00 or 18.00. Once a pennant has 'completed' it becomes void to me in any event and at times they are 'bearish' but do not fully complete as expected and a judgement call has to be made, based on ongoing PA.
My current views on XAU/USD are HERE:
XAU/USD UPDATE : OUTLOOK REMAINS BEARISH
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