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XAUUSD Intraday Overview and Scalping Opportunities Update: Target Reached

XAUUSD Intraday Overview and Scalping Opportunities

We would like to share an update.

As you know we have a short trade which we entered yesterday. We have reached our first target. We modify our second target. It was 1277 and we move it to 1278.60

The reason:

We see a potential bullish bat pattern on the M30 Chart. A potential minor bullish retracement is predicted.

We keep our bearish sentiment and we will use pullbacks as selling opportunities as long as it holds below 1290.

Intraday traders or scalpers may use this opportunity to long.

The setup of the pattern :

Trade: Long

Area of the entry: 1278.56  – alternative entry for the pattern is Fib 1.13 extension at 1271 –

Stop: Below 1271

Targets: 1281 and 1284. / Targets Reached and Trade Closed. 

 

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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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