Counter-Trend Gold : Bullish 3 Drive & ABCD Pattern (Hourly)

This one is counter trend trade with ABCD pattern completion in 1190-1205's zone which is the last support, if broken XAUUSD Gold will fall to next support zone.

If the chart is looked in bird's view we can spot Bullish 3 drive pattern getting completion in same zone.

I am not expecting too much of bullish run from this idea bcos Fed meeting is within 15 days, so I will be booking some early profits in XAUUSD and keep partial positions

Happy Trading !

Kommentera:

Though ABCD pattern worked perfectly, I didnt get my orders filled as I expected to enter at the levels of 1190's.

So as of now If I didnt get any authentic reason @1190's, I wont enter long in Gold