XAU/USD - Possible descending triangle formation

If this is truly a descending triangle, we should a big move lower to 1800 or lower before making another leg up
Look at fibo of E wave, now price are under the .618 level, so it is very likely that E wave is completed
Let's see if we can break 1900 to confirm this pattern

İşlem elle kapatılmış:

I closed all my short position.
I dont think stronger dollar coincides with my view on other equities.
I will look to go long if gold go down to 1800-ish
Either way. I dont think i will go short unless im absolutely sure

Yorum:

I opened short @ 1950 with stop above 1957

İşlem aktif:

Now we only need to clear 1938
And then we will revisit 1900 again

Yorum:

very likely