FX:XAUUSD   Gold / U.S. Dollar
134 3 5
This is one of posssible scenarios I consider.

Watch price action for any signs of reversal on first two tp levels.

if price will manage to break through yellow trendline final tp should be reached.

Comment:
snapshot
Comment: watch for breakout of trendline
Comment: Setup invalidated.

Related Ideas

Hi Pablo
I am not very good at the harmonics patterns yet, but one question, please.
How far down can you extend pt C before it invalidates your pattern?
Thanks
Murray
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pablo82 Oh_If_Only
Hi

Usually I stick to rule that C cannot go further than 0.618 retracement of AB however I came across rule that C can be even extended to 0.786 fib level.

I always try to select best setups in terms of structure / pattern development.
Reply
Oh_If_Only pablo82
@pablo82,

OK. Using bodies rather than pins -
1366 - 0.786*(1366-1057) := 1123 (max possible PB area to remain validated).
Spot is 1157 and forming a doji ~ Hhhmmm I think 1123 is a next week area.
Spot looks a likely place for a ST buy with a possible upside target of $1190, then I expect it to continue falling towards my original target of sub $1100 and $1123 is abt midway from spot.
Just my 2c worth ...
Thank you and Regards


Reply
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