XAU H4 UPDATE - BEARISH CYPHER
In our previous XAU analysis, we took a look at the daily where targets such as $1800 seem nearly inevitable given market conditions. That analysis is still valid, and is linked below.
Here, we have a bearish harmonic pattern developing that I have seen very good accuracy from in the past. Something to be aware of.
Targets for a short are the legs of the harmonic. IE 1700, 1670, etc.
This pattern could be valid and only result in a small retrace to $1700 ish, the B Leg pivot point.
Alternatively, The Daily set up could prove stronger and this might not materialize at all.
Given the TD9 though, I expect we’ll at least see a small pullback here.
Good luck.
Here, we have a bearish harmonic pattern developing that I have seen very good accuracy from in the past. Something to be aware of.
Targets for a short are the legs of the harmonic. IE 1700, 1670, etc.
This pattern could be valid and only result in a small retrace to $1700 ish, the B Leg pivot point.
Alternatively, The Daily set up could prove stronger and this might not materialize at all.
Given the TD9 though, I expect we’ll at least see a small pullback here.
Good luck.
Not
By no means am I recommending to short gold, lets just make that clear. This is a warning for longs.Not
This idea is invalidated with a swing low above the green line (~1717)Not
Looks like we will break this resistance :)Not
Be careful. I redrew with the current price and it’s still valid
Feragatname
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.
Feragatname
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.