XAU 1D Rising three methods
"Rising three methods" is a bullish continuation candlestick pattern that occurs in an uptrend and whose conclusion sees a resumption of that trend.
↵ Features of the three research units found
• An improvement is made in the middle of the process
• The first candle is large
• The second, third and fourth candlesticks are bearish and cannot go lower than the low price of the first candlestick.
• It is the fifth candle and its final price is higher than the high prices of the previous four candles
⇐ behavior: continuing the progressive process
Based on this powerful pattern in the daily chart, gold can climb up to the 1970 target.
On 4H Chart :
double bottom : The bottom of this pattern is 1901 dollars and its neckline is 1921 dollars! It has clearly touched the bottom twice and returned to the neck, this is our first confirmation to confirm this pattern, in the second confirmation we need a pullback to the neckline that has broken it powerfully.
Well, you can see for yourself that after breaking the neckline of 1921, he put a pullback on it with a few candles and it didn't enter! This is the second confirmation
So, we now have 2 patterns, Rising three methods in the daily chart and a double bottom in the four-hour chart, with many confirmations for ourselves, that gold will rise until 1970.
↵ Features of the three research units found
• An improvement is made in the middle of the process
• The first candle is large
• The second, third and fourth candlesticks are bearish and cannot go lower than the low price of the first candlestick.
• It is the fifth candle and its final price is higher than the high prices of the previous four candles
⇐ behavior: continuing the progressive process
Based on this powerful pattern in the daily chart, gold can climb up to the 1970 target.
On 4H Chart :
double bottom : The bottom of this pattern is 1901 dollars and its neckline is 1921 dollars! It has clearly touched the bottom twice and returned to the neck, this is our first confirmation to confirm this pattern, in the second confirmation we need a pullback to the neckline that has broken it powerfully.
Well, you can see for yourself that after breaking the neckline of 1921, he put a pullback on it with a few candles and it didn't enter! This is the second confirmation
So, we now have 2 patterns, Rising three methods in the daily chart and a double bottom in the four-hour chart, with many confirmations for ourselves, that gold will rise until 1970.
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