Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
XAU/USD: bears are preparing a trap
SELL 1326 SL 1339 TP1 1296 TP2 1272 TP3 1244
SELL 1333 SL 1346 TP1 1302 TP2 1272 TP3 1244
SELL 1340 SL 1353 TP1 1310 TP2 1302 TP3 1272
On the daily chart, XAU/USD keeps consolidating in the 1302-1360 range. Another test of its lower border ended the formation of the “Widening wedge” pattern. Pullbacks towards 23.6%, 38.2% and 50% of the wave 4-5 are usually used for selling.
On H1, a “Shark” pattern is transforming into 5-0. Corrections to 1326, 1333 and 1340 may be used for selling.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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