XAUUSD Gold is Rounding Bottom
Option 1.
A rounding bottom is a chart pattern used in technical analysis and is identified by a series of price movements that graphically form the shape of a "U". Rounding bottoms are found at the end of extended downward trends and signify a reversal in long-term price movements. This pattern's time frame can vary from several weeks to several months and is deemed by many traders as a rare occurrence. Ideally, volume and price will move in tandem, where volume confirms the price action.
However, it can also form Cup and Handle which is also a Bullish pattern.
Option 2.
A cup and handle price pattern on bar charts is a technical indicator that resembles a cup and handle where the cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern typically has low trading volume and may be as short as seven weeks or as long as 65 weeks.
Whatever it will become, I'm expecting growth in the following months.
Remember to drop a like if you find this idea interesting.
Disclaimer
Remember to always Do Your Own Research.
I am not a financial advisor. The advice here given is not financial advice even though my excitement might make it look like such.
You trade at your own risk and nobody can guarantee you results. Even if someone could, I don't.
A rounding bottom is a chart pattern used in technical analysis and is identified by a series of price movements that graphically form the shape of a "U". Rounding bottoms are found at the end of extended downward trends and signify a reversal in long-term price movements. This pattern's time frame can vary from several weeks to several months and is deemed by many traders as a rare occurrence. Ideally, volume and price will move in tandem, where volume confirms the price action.
However, it can also form Cup and Handle which is also a Bullish pattern.
Option 2.
A cup and handle price pattern on bar charts is a technical indicator that resembles a cup and handle where the cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern typically has low trading volume and may be as short as seven weeks or as long as 65 weeks.
Whatever it will become, I'm expecting growth in the following months.
Remember to drop a like if you find this idea interesting.
Disclaimer
Remember to always Do Your Own Research.
I am not a financial advisor. The advice here given is not financial advice even though my excitement might make it look like such.
You trade at your own risk and nobody can guarantee you results. Even if someone could, I don't.
Note
It's been a journey and it's insane how accurate that was!
Disclaimer
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