Shameen4

Shameen4

XAUUSD PAIR IS MAKING DOUBLE BOTTOM PATTERN AFTER A HUGE DOWNWARD RALLY. IT CAN BE A REVERSAL POINT. - Double Bottom - visible divergence on RSI

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Series of Higher high higher low and made double top at 0.681 Fib level and move down and made Bearish flag pattern.

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After making series of higher high higher low it is moving in range and break it and also breaks the trendline. on Daily time frame it is on 0.618 Fib level so expecting to move down.

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Bullish reversal possibility as it is making bat pattern.

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Bullish indications: making higher high higher low formation and respecting parallel channel by formatting tweezer bottom candlestick pattern.

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Bearish Indicator 1- hanging man 2- Weekly resistence 3- reverse from trendline 4- on daily time frame it is almost at 0.618 fib level

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uptrend started after bearish rally but did not sustain and at resistance area and made double top pattern.

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after making bearish rally it reverse and made higher high and higher low pattern. Entry taken at 2nd higher low.

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It made a higher high after a bearish rally and made inside bar at recent higher low.

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after long bullish rally it is making series of lower high and lower low. the idea is to short this pair and use FIB retracement levels for targets.

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This pair is on its weekly resistance tested twice and again it made three black crows at weekly resistance.

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This pair is making flag formation with dow theory and also making resistance on 4 hourly frame.

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Parallel channel drawn on 4 hourly time frame It is testing upper parallel channel and might test the previous recent resistance as support.

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Using harmonic BAT pattern found the bullish reversal as the price is taking support at Bat pattern reversal point.

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After making a long bullish rally it reaches to its resistance and now moving down.

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Using harmonic pattern AB=CD combining with the dow theory of lower highs and lower lows.

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After continuing a long bullish rally now it is now in bearish trend and making lower high and lower low

Shameen4

Using bat harmonic pattern for finding the bullish reversal point. .