XAU/USD: Gold short to complete AB=CD and/or bat?

FX:XAUUSD   Gold Spot / U.S. Dollar
387 2 12
Several possibilities for Gold             at the moment, it all depends on what PA will do in the coming days...

Currently looking to short close to the trendline and/or the 0.618-0. 786 retracement of the last move down (possible AB=CD ) to hopefully catch a new wave down to complete a new AB=CD pattern... Will be looking at lower TF's to pinpoint an entry and possibly use a tighter SL! Very nice R/R possible on this one!

If it fails and the trendline breaks (we did possibly complete a zigzag ABC close to the 0.618 of the last big move up (bat XA) and re-test the broken trendline (dashed)...) then it is possible that we will get a new larger up wave..., in that case my SL is there to protect me!

If I get my entry and it heads further down I will take profit as shown (possible TP2 at bat completion) and I will also be looking for new setups around the levels depicted by the rectangles on chart.

Ultimately we might get a bulish bat completing around the 'up' trendline as shown in the chart. Possible setup on chart with the standard 2 TP's...

Far from there atm, as always: we'll see!! Happy trading!
Trade active: Short entry order triggered, didn't get a chance to add manually, but it's going well...
Comment: Just took 50% profit after price spiked down..., possible trendline support...
well done, spots on
KVE FtseSignals
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out