Traders:
We have finally see some resistance on XAUUSD (GOLD) on the daily chart around 1255.00 area. We are also seeing a potential Daily Head and Should pattern developing, and today we can see the price action form the right shoulder, confirming the bearish momentum.
1 HR chart has a double tops, and broke down support trend line. We can wait for a lower high to develop, and a mini head and shoulder pattern to present itself before shorting.
Target 1: 1244.50 (2% Profit)
Target 2: 1234.00 (4.1% Profit)
Target 3: 1220.00 (6.9% Profit)
Thank you for your support and feedback.
We have finally see some resistance on XAUUSD (GOLD) on the daily chart around 1255.00 area. We are also seeing a potential Daily Head and Should pattern developing, and today we can see the price action form the right shoulder, confirming the bearish momentum.
1 HR chart has a double tops, and broke down support trend line. We can wait for a lower high to develop, and a mini head and shoulder pattern to present itself before shorting.
Target 1: 1244.50 (2% Profit)
Target 2: 1234.00 (4.1% Profit)
Target 3: 1220.00 (6.9% Profit)
Thank you for your support and feedback.
Commento:
Commento:
No trade taken as the FOMC minutes spiked up the price action.
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