sohrabkhanlive86

sohrabkhanlive86

For XAUUSD, the market has stopped for now. Until it resumes back a few hours later, I thought to share an interesting thing I just picked up. We have a Head and Shoulder Pattern that has formed on XAUUSD (2H). If that is the case, go short and set your T/P at 1765 regions.

sohrabkhanlive86

Here is yet another chart pattern. It appears that $1677 is literally the floor (strong support), and currently, the lower highs are suggesting gold will continue an up-and-down ride until we near the end of the pattern. Strategies for now? - When at roof level (high), go short - When near the floor, go long This should keep the investors and traders busy for a...

sohrabkhanlive86

Although the JOLTS Job report was higher than anticipated, it did not phase Gold (XAUUSD) as such. This pattern was formed well before the report, and it was bound to break out. Key things to note: 1. Major support at 1780 level 2. Possible T/P at 1794 3. If it is a true breakout, levels can drop to 1765, which is the next support.

sohrabkhanlive86

The picture here reflects a perfect reverse Head and Shoulder pattern in the making. If all goes well, and the report that is due to come out today goes the right way, we can expect to see BTCUSD jumping back up. Refer to the chart for more clarity. Of course, this comes with a disclaimer that nothing in Forex trading is 100% guaranteed. Trade at your risk.