XAUUSD possible scenario
Trendline breakout of Dn-model indicates the target at the top ~1470.70-1478.70.
Perhaps the formation of a new Up-model (MDB) in the form of an upward channel. If the corrective movement of the MDB model will happen and pink trendline breakout happens, then HP ~1448.50-1446.60 with high probability can be achieved.
If 1470.7 will reached ahead of schedule (that is, the time from point 6 (1450) to the trendline will be more than from the trendline to the 1st target) then XAUUSD will most likely return to the Dn-trend.
Yellow line - diagonal support/ resistance.
Breakout 1446 and consolidation under it - TP ~1431-1421.
Perhaps the formation of a new Up-model (MDB) in the form of an upward channel. If the corrective movement of the MDB model will happen and pink trendline breakout happens, then HP ~1448.50-1446.60 with high probability can be achieved.
If 1470.7 will reached ahead of schedule (that is, the time from point 6 (1450) to the trendline will be more than from the trendline to the 1st target) then XAUUSD will most likely return to the Dn-trend.
Yellow line - diagonal support/ resistance.
Breakout 1446 and consolidation under it - TP ~1431-1421.
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