XAUUSD Gold M30 Chart Bearish Gartley
Description: Gold is printing a Bearish Gartley Harmonic Pattern on M30 Chart. Bearish correction is predicted at D. Since the pattern is emerging on the smaller charts, the targets of the pattern is limited.
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
Trade Reason: Bearish Gartley Pattern
Time Frame: M30
Trade Period: Intraday
Estimated completion time: 2-16 H4 Candle Stick
The trend in the Timeframe: Neutral
The trend in the Daily Chart: Neutral
The accuracy of the pattern: 92 %
Recommended Lot Size: 0.10 at 10K
Area of the Entry: 1.308.20 – 1.308.96
Stop Loss: Above X 1312
Target 1: 1306.64 / Reached
Target 2: 1304.78 / Reached
Target 3: 1301.12
Ultimate Target: 1297.65
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
XAUUSD GOLD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility