Gold Spot / U.S. DollarUpdated Gold Today - Inverted Cup and Handle
Gold on the Short Term Chart in the Tokyo Session is forming Inverted Cup and Handle.
This is a bearish continuation pattern, and price expected to move down to
the Daily Central Pivot around 2456 , which is the nearest Demand Zone.
After this, a move towards the Daily R1 at 2488
This is a bearish continuation pattern, and price expected to move down to
the Daily Central Pivot around 2456 , which is the nearest Demand Zone.
After this, a move towards the Daily R1 at 2488
Trade active
Cool, a quick reaction to the downsideNote
Liquidity squeeze to take the stop loss orders for those buyers taking the double bottom early.... It is the right way, but the squeeze must come first....Note
So the larger pattern is a Bullish Channel. We now have the next waves which will be the Cup and Handle, so now price to move up....Note
Likely 2467 to 2472 in the early London Session Note
Just printed 2472... cool..
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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.