XAUUSD SELL idea
!*!*! The Fear of drop because of the Rising Wedge pattern is not over yet !*!*!
At the end of last month, the Market lost the bullish strength and there was a breakout of the current key trend. Gold was very close to free-fall to 1700 But As a reaction of Joe Biden's Victory Market pushed back Gold inside the trend with a clear reversal pattern that was formed below the Major trend line.
There is an Accumulation After the corona recovery which lasted for 2 months and it looks powerful. So After the market breaks the trend it is going to fall to 50% of the Accumulation and 50% of Accumulation is always the hit and run area because the market doesn't want to stay there more than a wick because if it stayed there it will again stuck in that zone for at least a month. That will be a great time for us because we can easily buy and sell in that range without losing trade, I have done it many times.
Good Luck!
At the end of last month, the Market lost the bullish strength and there was a breakout of the current key trend. Gold was very close to free-fall to 1700 But As a reaction of Joe Biden's Victory Market pushed back Gold inside the trend with a clear reversal pattern that was formed below the Major trend line.
There is an Accumulation After the corona recovery which lasted for 2 months and it looks powerful. So After the market breaks the trend it is going to fall to 50% of the Accumulation and 50% of Accumulation is always the hit and run area because the market doesn't want to stay there more than a wick because if it stayed there it will again stuck in that zone for at least a month. That will be a great time for us because we can easily buy and sell in that range without losing trade, I have done it many times.
Good Luck!
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