🔰 Pair Name : XAU/USD
🔰 Time Frame : 4H
🔰 Scale Type : Small Scale
🔰 Direction : SELL THEN BUY
From a highly technical standpoint, it is worth noting that Gold is currently in the process of forming a compelling and exceptional Harmonic Pattern, specifically the bullish Crab Pattern. As the price approaches the XA 1.618 level, approximately around the 1898 area, we anticipate a retracement to occur, at the very least reaching the 1944 area, and potentially extending further to 1956.7 at the B point-C point.
It is important to be aware that there is a possibility of the price retracing back to the 1938.5 area today before completing the pattern.
It is crucial to exercise caution and make informed trading decisions while staying attentive to the market.