nikhilgautam7000

XAUUSD W pattern in formation!!!!

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
What is the possible scenario here???

According to me, a W pattern may be forming in the 4 hr chart as we know that GOLD prices are still bullish and also the rejection of the downside is seen again and again in the 4 hr chart.

Also, this region holds support too so, buying can be triggered again here. So, if you have a position open in long then keep it open otherwise do not short and once we get reversal i.e. prices move above 1747 levels and get stable we will be entering in long for the same target of 1765 and above this time.

BUYING REGION - 1727-1747.

PS- DO NOT SHORT THIS PAIR!!!!

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