XAUUSD is forming a contracting triangle of wave X.

supreme_bull Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Timeframe: 1 day chart
XAUSD has created a corrective pattern W-X-Y (double three) on the wave (4).
Wave 4 is forming double three patterns, where gold has completed wave W.
Wave X is a contracting triangle.

Bears can enter after the breakout of the B-D line.
Breakout of the B-D trendline shows that gold can fall very sharply.

Sometimes, The market creates unexpected moves, and we miss the opportunity.
If gold blows out the A-C trendline of the triangle, then we should be ready to change our bias from a bull into a bear.
Within this consolidation box, Gold illustrates unbiased strength.

I have mentioned important levels on the chart.

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Gold has reached the first and second target.
Gold is marching for final target.
Trade closed: target reached:
Gold made traders jocund.

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