Short

XAUUSD : Downside breakout expected !

Updated

As shown in the post above, I'm waiting for the downside breakout from the symmetrical triangle. You can have elliot wave counts within triangle or just skip it, its purely based on trade rules. I feel XAUUSD is weak on long timeframe also though it has support around 1200;s zone but breaking the zone will result in heavy downside movement.

Happy Trading !

Trade active

But pullbacks possible, only after 1212's we will see a good drop, So plan your stops accordingly to avoid backlash

Note

Re-draw the lower trendline, to be in sync with market moves, Xauusd is still ranging

Note

Note

Though it tested our patience a lot, finally we got the move from the breakout as expected ;)

InsiderB

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