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XAUUSD Potential Bullish Crab and Bat Formation

 

XAUUSD Potential Bullish Crab and Bat Formation

  • We are still bearish, and selling pressure will remain as long as the Gold prices holds below 1265 USD. Currently; there is no fundamental that support Gold prices.
  • Our latest setup reached the second target as well.
  • 1218 is one of the historical supports and plays the key role in the smaller chart timeframes. Breakout of 1218 will lead the price 1212 , 1207 and 1198 USD.
  • A Bullish Crab formation on the H4 chart which would be completed at D 1197 USD as seen on the below chart. This pattern signals a minor retracement. We will publish the details for the members if the pattern becomes validated.
  • A Bullish Bat  formation on the H4 chart which would be completed at D  1186  USD as seen on the below chart. This pattern signals a minor retracement as well.We will publish the details for the members if the pattern becomes validated.
  • This pattern can be the signal of the retest of the broken bearish flag as seen on the below chart. The ultimate target of this Flag Pattern is 1150 USD.

All possible shorter term trade setups will be published for the members.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

XAUUSD Gold Bullish Crab And Bat Formation: 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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