A brief analysis about spot gold (XAUUSD)

17 февр. 2018 г.

Base on Bullish pennant pattern theory, price target should be 1380, breakout rally was $25, from 1330 to 1355. In theory 1355 bullish pennant breakout supposedly go to 1380 (1355 plus 25 = 1380). Monthly wicks haven’t fill yet (learn about price action, you will understand what I mean). But D1 showing a rejection and weekly wicks has been filled. Which means anticipating a retracement. Pattern theory won’t always work, but base on my experience in the past, it always work.
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