Gold (XAUUSD) 3Legs pattern.
According to above chart you can see 3leg pattern of pullback:
1st leg from all time high $2075 to $1862, 2nd leg from $2015 to $1920 and
after some consolidation you can see 3rd leg from $1992 to $1930. So it indicates that
pullback is going to over and gold has also completed their legs.
Moreover Trend lines, candles and MA shows some Strong Bullish bias.
Recommendation for Swing traders:
wait to break and 4h should close above $1948 area and than Buy.
Goals are $1990 and $2020 and for Long term $2070 and $2150.
Stop should be $1906.
(Break of $1870 will change the bullish narrative)
1st leg from all time high $2075 to $1862, 2nd leg from $2015 to $1920 and
after some consolidation you can see 3rd leg from $1992 to $1930. So it indicates that
pullback is going to over and gold has also completed their legs.
Moreover Trend lines, candles and MA shows some Strong Bullish bias.
Recommendation for Swing traders:
wait to break and 4h should close above $1948 area and than Buy.
Goals are $1990 and $2020 and for Long term $2070 and $2150.
Stop should be $1906.
(Break of $1870 will change the bullish narrative)
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