Tag - gold

XAU/USD: bears got in a trap
XAU/USD: bears got in a trap

On the daily chart, XAU/USD is correcting to the long-term uptrend. Bears are trying to form a “Shark” pattern with a target at 113% located at 1183.

XAU/USD: gold is lying on the shelf
XAU/USD: gold is lying on the shelf

On the daily chart, after XAU/USD had reached 88.6% target of the “Shark” pattern there was a natural pullback. Bears are counting on the decline to the 113% target.

XAU/USD: gold is looking for a bottom
XAU/USD: gold is looking for a bottom

On the daily chart of XAU/USD, the short-term downtrend continues in line with the formation of a “Double top”, AB=CD and a “Widening wedge”.

XAU/USD: Indians prefer gold
XAU/USD: Indians prefer gold

On the daily chart, XAU/USD keeps forming patterns 5-0 and a “Widening wedge”. The pair is moving towards a convergence area of 1,244-1,250 (50% correction of the last long-term bullish wave)…

XAU/USD: bears are armed with a wedge
XAU/USD: bears are armed with a wedge

Recommendations: SELL 1290 SL 1305 TP1 1272 TP2 1244 BUY 1300 SL 1285 TP1 1324 TP2 1333 TP3 1349 On the daily chart, XAU/USD formed a “Broadening wedge”…

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