XAUUSD Gold Analysis

17 Mar 2019

Gold now is between two probabilities; either completing its uptrend-way or going down. Now it's correcting and forming a pattern. We have to watch the pattern and see its setup. If the price pattern is a bearish setup; you have to go Short and vice versa. I think the correction might continue till Wed until Fed announce the rate value. Then markets can take a direction. Technically still we can't predict the right direction from this moment. On the weekly time-frame it gives us a bullish signal (bullish candle), but on the daily time-frame it's still correcting.. No bullish reversal patterns available till now. So still the bearish power is mostly expected (it's my point of view and it's not a trading signal).. If a bullish reversal happens; so follow my arrows.. If not, wait for a reversal from a strong resistance and follow my arrows too.. Regards,