XAUUSD: Target hit. Second attempt to break the 2 month uptrend.
Updated
The first TP = 1,203.20 as the price made a low near 1,196. After that the Lower High scenario within the 4H Channel Down eventually prevailed, restoring the 1D chart to neutral bias (RSI = 51.209, STOCH = 53.842, Highs/Lows = 0.0000). This indicates that the two month Channel Up will be put to test once again as the 4H Channel Down after making a new Lower High at 1,225, should attempt to break last week's 1,196. Technically this breaks the 1D Channel Up permanently and opens a new bearish pattern towards 1,180. The next TP is still 1,294.95.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
Note
Correction: The TP is obviously 1,194.95.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.