XAUUSD H4 - CYPHER PATTERN
It is no surprise that the price is dropping, for those who understand the harmonic patterns they'll tell you why. I am still bullish on this pair, simply because on weekly & daily chart(bigger picture) we are very bullish.
I knew the price was going to take a breather after hitting on that 78.6% zone. but I know this drop of price is not going to take long, it actually pulling back after that rally up of price. but I don't think the drop is going to be that deep. the price might just bounce off from that 38.2% fib ratio, plus looking on the left we seeing an nice price structure that might possibly act as new swing low(support).
Remember, plan your trade & trade your plan. :)
Kind Regards
I knew the price was going to take a breather after hitting on that 78.6% zone. but I know this drop of price is not going to take long, it actually pulling back after that rally up of price. but I don't think the drop is going to be that deep. the price might just bounce off from that 38.2% fib ratio, plus looking on the left we seeing an nice price structure that might possibly act as new swing low(support).
Remember, plan your trade & trade your plan. :)
Kind Regards
Feragatname
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