XAUUSD has experienced strong sold off (Bear Spike) last week. Market movements usually happen with 2 legs.
The more stronger leg 1 is, the more possibility for 2nd leg to appear.
Price is moving within bull channel. This channel is not strong one and has too many overlaps. Every bull BO has bad follow-through.
The odds are in bear flag favor. This channel is just a bull leg in trading range and I expect it to be broken from down side.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
The more stronger leg 1 is, the more possibility for 2nd leg to appear.
Price is moving within bull channel. This channel is not strong one and has too many overlaps. Every bull BO has bad follow-through.
The odds are in bear flag favor. This channel is just a bull leg in trading range and I expect it to be broken from down side.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.