XAUUSD just broke bullish market structure. It failed to break Higher high and created a double top which will be confirmed as it breaks below 1705. Will be entering short as it breaks below 1705 and confirms it on hourly chart TP 1 will be 0.5 Fib which is 1672.05 and TP 2- 1658.42. will go for TP 3 1617 if it breaks below golden pocket of 0.618. My SL will be 2% I'll be entering short only if it actually confirms the double top by breaking below 1705. that will confirm market has actually flipped to bearish
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so it broke below Ascending broadening wedge pattern. An ascending broadening wedge is a bearish chart pattern (said to be a reversal pattern). Target of these pattern are usually at bottom of the Ascending broadening wedge i.e. 1614.95. If, I were to trade this pattern I'd have entered short by aiming target for 0.5 fib and 0.618 fib levels
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Employment report came out positive for the DXY
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closed Trade 1 at 1675
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Tapped 0.5 fibonacci level
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Closed manually after tp1 and tp2 because Gold broke the 1674 area
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