XAU USD UPDATE
Price has completed the Double top or M Pattern formation on the Hourly Timeframe and on the Golden Support zone. Although the M Pattern on Daily Timeframe hasn't been completed, so still expecting further Downside.
But for now Price seems to be in a temporary bullish trend, as we can see it broke out of the falling channel and currently in a rising channel, so we'll see how long it stays bullish or breaks further or breakdown the channel.
Also concerning my trade's, as we can see, the short trade I Posted yesterday didn't hit our TAKE PROFIT, but went down to the Golden Support zone and rejected twice. although I closed the trade at Break Even, and entered 2 long scalp trades, the 1st was super and the other closed again at Break even because Price swung down. But we'll see further moves and I'll update you soon.
But for now Price seems to be in a temporary bullish trend, as we can see it broke out of the falling channel and currently in a rising channel, so we'll see how long it stays bullish or breaks further or breakdown the channel.
Also concerning my trade's, as we can see, the short trade I Posted yesterday didn't hit our TAKE PROFIT, but went down to the Golden Support zone and rejected twice. although I closed the trade at Break Even, and entered 2 long scalp trades, the 1st was super and the other closed again at Break even because Price swung down. But we'll see further moves and I'll update you soon.
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