Here is an update on the pair
RECAP:
In our previous analysis gold was trading at $1694
We were bullish on the pair and expected the pair to break above $1710
and test resistance at $1750
The pair did break above $1710 & was limited @ $1720 before a reversal to the $1710 level
The pair triggered our Buy Stop @ $1710 which we banked @ $1720 after the formation of a
bearish harmonic pattern @ $1720
We had other two active trades(posted on our group) on this pair which all closed at $1720
banking us a total of 700 pips on the pair
WHAT TO EXPECT:
Currently at $1710
We are still bullish on the pair and are still aiming for our $1740 TP target
We have opened another buy order on the pair at this current level
Bearish harmonic pattern shows that the pair might be short term bearish
but seems limited @ $1708-$1705
Keep an eye on US10Y & DXY
OUR POSITIONS:
Buy Stop @: $1720
Buy Stop TP@: $1730
Sell Stop @: $1695
Sell Stop TP @: $1685
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP:
In our previous analysis gold was trading at $1694
We were bullish on the pair and expected the pair to break above $1710
and test resistance at $1750
The pair did break above $1710 & was limited @ $1720 before a reversal to the $1710 level
The pair triggered our Buy Stop @ $1710 which we banked @ $1720 after the formation of a
bearish harmonic pattern @ $1720
We had other two active trades(posted on our group) on this pair which all closed at $1720
banking us a total of 700 pips on the pair
WHAT TO EXPECT:
Currently at $1710
We are still bullish on the pair and are still aiming for our $1740 TP target
We have opened another buy order on the pair at this current level
Bearish harmonic pattern shows that the pair might be short term bearish
but seems limited @ $1708-$1705
Keep an eye on US10Y & DXY
OUR POSITIONS:
Buy Stop @: $1720
Buy Stop TP@: $1730
Sell Stop @: $1695
Sell Stop TP @: $1685
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
