Gold XAUUSD Possible Cup & Handle Formation

Jun 3, 2020

Seeing a possible cup & handle formation on Gold. Volume decreased while forming the bottom of the cup and a spike increase while testing the highs. Buy zone at 1440-1540. Take profit 1 at highs and 2 at 2150 USD.

Jun 3, 2020

Note

Just to correct a timing error I made.

The handle formation is probably not going to take as long as shown in the chart above. I surely overestimated it. The handle formation can take a shorter time period than what is shown in the chart above. The handle could even take the formation of a sideways triangle.

Still sticking to my analysis of entries and take profit levels.