Breaking below bearish channel would depreciate price of xauusd to much lower levels, but for now we're still in it and h4 candle with double bottom from new support line giving nice chances for bull's to ride 1260, also it would similar angle for diamond top formation and meaning reverse of gold to hard downtrend and invalidate breaking the wedge on 1W and 1M timeframes. Trade levels and S&R zones are marked by color. Good luck and happy trading everybody. P.S. my stops should be much smaller cause would use smaller time-frame for more precise enter to position
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Made much simplier charting with clear IMPORTANT XAUUSD S&R lines. Would be glad for comment and critics.
Сделка закрыта: достигнута тейк-профит цена
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Target reached so i closed my long and waiting for opportunity to short
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staurum
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ah huh... found this chart finally .... Im hoping this would come true. although now we r inside bearish channel, a break would help upmove. but still the plan is to complete giant Head & Shoulder pattern. with neckline around Weekly EMA100. we have touched the neckline to make a right shoulder (i hope) and at the peak of the right shoulder, if chance comes, short may fill in.