Oh how I love bears and bats! This is looking like a great set up in the making. As always patience is key!!!! Wait for validation before entering this trade
Possible gold support and rise against British Pound
ENTRY LONG @ 871 SL 824 TP1 942 TP2 988
#GOLD #XAUGBP completes a pattern
#XAUGBP #GOLD #GBP Scenario in US elections 2 high probability zones zones
#XAUGBP #Gold Going UP to Complete Pattern and Test Channel
Bullish gartley has just completed on the 240 chart. Looking to go long. D point falls nicely on previous area of structure. Let' see how it plays out. Please like if you agree and leave any comments.
Silver’s day end close below the double top neckline level of GBP 14.514/Oz with daily RSI at 40.00 suggests the prices are likely to drop further to GBP 13.74/Oz (June 24 high). However, 5-day losing streak has left prices oversold on intraday charts, thus a minor rebound from GBP 14.327 (23.6% of Dec low – July high) could result in a brief jump above neckline...
The fact that we have GBP bullish formations on the Gold/GBP and GBP/USD pair a day ahead of the possible rate cut move clearly indicates an interest rate cut has been priced-in by the markets. Gold/GBP - Head and Shoulder formation GBP/USD - Inverse Head and Shoulder formation