XAUUSD and the Three Headed Beast Kerberos
I will explain in this idea why I am bearish on gold and where this three headed bearish pattern got its name from ;). Continue reading to learn more about this!
At first, we saw a bearish double top here on gold like I described in my first idea this month, but now we got presented with this sudden retracement back up just before the weekend was coming.
I keep my bearish bias, but could see a temporary increase in price here to form something like a right shoulder of a H&S pattern.
When discussing this concept on the tradingview chat with other traders, someone mentioned that this Head and Shoulders set-up looks more like a triple head haha. I definitely agree with him and decided to go for this bearish Kerberos set-up ;).
If you weren't shorting gold already, this could be a good moment to wait for a slightly higher price and enter the short again for a good risk reward on your trade.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
At first, we saw a bearish double top here on gold like I described in my first idea this month, but now we got presented with this sudden retracement back up just before the weekend was coming.
I keep my bearish bias, but could see a temporary increase in price here to form something like a right shoulder of a H&S pattern.
When discussing this concept on the tradingview chat with other traders, someone mentioned that this Head and Shoulders set-up looks more like a triple head haha. I definitely agree with him and decided to go for this bearish Kerberos set-up ;).
If you weren't shorting gold already, this could be a good moment to wait for a slightly higher price and enter the short again for a good risk reward on your trade.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
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.
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
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.