naynay97

Gold/US Dollar 4 hour chart possible XABCD pattern.

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
There seems to be this possible XABCD pattern that will be occurring when the market hits the resistance level . This is a possible reason on why it may reverse at this level, it is due to the fact that the when formation hit A at that level, prices started to go underbelly aggressively so I am hoping for a move similar to that previous downtrend.

Two profit targets have been marked for the viewer.

Comment: Could also be a inverted H&S formation about to occur as well....apologies for not pointing this out earlier folks.