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XAUUSD Gold Technical Overview and Trade Opportunities

XAUUSD Gold Technical Overview and Trade Opportunities

Gold completed Bearish AB=CD pattern at 1.311 and retraced.

It is trading in an ascending trend line and testing fractal/support 1298-1300.

Short Setup:

Break below the support and the ascending channel would validate the bearish flag pattern.

Short:  Breakout 1297

Stop: Above 1.306

Target 1: 1.292 /REACHED

Target 2: 1.281

Target 3: 1.277

Ultimate Target of the pattern: 1.270

Long Setup:

Long: 1305

Stop: Below 1.297

Target 1: 1.311

Target 2: 1.317

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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

 

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