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...
As we can see that at the beginning of this week XAUUSD was going down but it clearly got a strong support at 1700 level and we are getting this short triangle nearly ending and its showing upward potential, and if this happens as we thought then after breaking and stabilizing above 1740 levels will give a bull run towards 1800 levels. So, it's a great buying...
