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Bat Pattern almost triggeredHi All, I am watching this pattern for some while. I do not like the fact the price retraced almost 38,2% already before triggering an entry => some short term buying potential is already gone. In addition, I will pay attention to the 1,272 & the 1,618 extensions of the latest swing as potential alternative entries, instead of entering aggressively. I see price action as building and releasing buying and selling pressure. Would be interesting to know if anyone else has the same view on price action :) Happy for any comment.
Long
by LorbeerInv
SHORT GOLD (xau/usd)We are in a quite important time for gold at the moment, My view on the commodity is bearish longterm down to potentially 840.00. That said Gold is currently showing another short term selling opportunity opportunity. After breaking 1200 last week (which I called in a previous previous gold post) we are currently retracing slightly back up to that level once more. This also lines up with the 61.8 of the previous downward move and the top of the current downward channel. with these confluences in mind i will be looking at price action around this level for multiple rejections or reversal signs. should we get a valid rejection signal targets will be down at 1160.00 and beyond to 1140.00
FX_IDC:XAUUSDShort
by Joe_Keegan
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