XAUUSD : Quick Down Spike expected to 1144 and 1136.6
Updated
XAUUSD Looks like expanding flat ABC in making. any extreme retrace also make valid pattern to trade downspike. by previous impulse and fib line, I suspect quick spike to 1144 atleast and then Up. Any thing below is dip buying.
I do not call for short at this levels. just watch and do the dip buying. larger trade is upside.
I do not call for short at this levels. just watch and do the dip buying. larger trade is upside.
Note
This could be another alternative during FOMC spikesNote
first 15min close very much close to our target 1144.Note
1144 DoneNote
I think this is good snapshot to take. We did 1140.Trade closed: target reached
lets not get greedy. we got 1139 very near to 1136Note
Clean 25$ I suppose. I still believe that it will consolidate sideways and might continue down.
Shorts are dangerous at this points.
short squeeze anytime !!
Note
Serious bleeding Underway . I think tag/break of 1045 on longer term is possible. For first I am expecting bear flag consolidation towards 1160 and then downward continuation.
That would be a new chart.
Good luck.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.