IOX-FX - XAUUSD - butterfly + bearish triangular pattern
Updated
Xauusd:
In daily timeframe we have a butterfly pattern.
In monthly structure we have the rejection of the downtrend line. We have a bearish triangular pattern.
The 1834-1830 level is a support zone where the price could make a price reversal.
In case that zone breaks, we would target the 1804 level, which is the 0.618 level, which coincides with the uptrend line.
In daily timeframe we have a butterfly pattern.
In monthly structure we have the rejection of the downtrend line. We have a bearish triangular pattern.
The 1834-1830 level is a support zone where the price could make a price reversal.
In case that zone breaks, we would target the 1804 level, which is the 0.618 level, which coincides with the uptrend line.
Note
Note
+330 pips
Note
+370 pips
Note
TARGET REACHED + 410 PIPS
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.