Gold is about to choose direction

Gold is about to choose direction

2019-11-11 • Updated


BUY 1213 SL 1198 TP1 1243 TP2 1263 TP3 1285

SELL 1188 SL 1203 TP1 1158 TP2 1143 TP3 1128

On the daily chart, XAU/USD keeps consolidating in the 1188-1213 range. A break of its upper border will increase the odds of advance towards 161.8% target of a “Crab”. On the other hand, a decline below support at 1188 will open the way down to 161.8% target of AB=CD.

XAUUSD Daily.png  

On H1, XAU/USD keeps forming a “Spike and ledge” and a “Broadening wedge”. Support at 1188 or resistance at 1213 will help to determine the further direction.



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