Potential BULLISH PENNANT formation on XAUUSD
Updated
I am still very bullish on gold since USD was really strong last week and gold was barely affected. DXY also seems to be doing a double top soon on the H1-H4 time frame which could fuel a stronger bullish momentum for gold this week.
My personal entry point is on the stop hunt that I've shown on the chart.
If this chart helped at all, leave a like.
I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA.
DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA.
Good luck to everyone!
My personal entry point is on the stop hunt that I've shown on the chart.
If this chart helped at all, leave a like.
I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA.
DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA.
Good luck to everyone!
Note
Pennant may be invalidated.. Gold seems to be going for new daily lows to prepare for upcoming US GDP on friday.Note
Update: Pennant not invalidated as new trendlines have been formed for the pennant. Watch for a break through in this new pennant and a possible stop hunt at the bottom trend line this Friday during US GDP.Trade closed: target reached
Disclaimer
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