XAUUSD SPOT GOLD 4H CUP & HANDLE PATTERN

14 thg 8, 2022

XAUUSD

The chart shows the pattern forming awaiting the completion of the handle.
Cup indicator calculated radius /depth.

This supports an uptrend for XAUUSD overall although it may downtrend
in the short-term in the handle formation.

Horizontal resistance lines are drawn to use as targets in a tiered
closure of the intended trade.

I will watch for buying volume as the price approaches the top of
the cup to confirm the pattern and a strong directional
move to enter the setup

What is your opinion? Please comment.

15 thg 8, 2022

Giao dịch đang hoạt động

Today the handle was developing the height of the cup is 1801-1704 or $97.

Price tested the top of the cup and could not break it (1807) Price then fell to

$1774 making the downtrend $27 which is less than 1/3 of the cup's height.

The pattern is intact and tomorrow is another day to watch for a bullish

continuation above $1801 also at which time an option about 3-4 weeks expiration
well be taken.