XAUUSD Bull Bat in Formation

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Hi Guys, I'm forex newbie (still on demo). Just want to share my opinion here & track my learning journey. Comments & advise are very much welcome so I can get a descent lesson here.

So, I manage to draw a bull bat pattern. My PRZ is between $1115.34 - $1083.60. I would look for candle reversal or RSI divergence to go long on this zone. Beside, price is also making lower high and in a descending channel. 1st & 2nd profit target is $1196.29 & 1264.81 respectively. Stop Loss would be my "Entry price + 7 period ATR".

Thanks. Happy Trading

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تعليق

Sorry guys, getting too excited just now that I get my PRZ wrong.
Updated PRZ is $1117.46 - $1082.54.

١٥ ديسمبر ٢٠١٦

تعليق

FOMC for they year had end, rate hike and hawkish speech (3 rate hike in 2017) gold dip lower. Anticipate an reversal for gold soon. This worth look into zerohedge.com/news/2016-11-17/islamic-gold-game-changer-gold-market