Looking at the weekly timeframe, XAUUSD has been playing around the major rejection zone (overhead supply) for a few days now.
From here, we have an opportunity for a SHORT at the top of zone from the D completion of the bearish butterfly pattern and at the top border of the ascending triangle. A tight stop in case price breaks the supply zone. TP is at minor support or let it run until 1300-1230 levels.
A long opportunity on a minor support in confluence with a bullish Gartley pattern.
Caveat!
Not
Price breaks the 2018 overhead supply and approaches 2013 overhead supply at 1400 -1430 levels.
Short trade stopped out. Long trade setup is now invalidated.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.