What to trade on May 9-13?
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
XAU/USD: gold is stregthening
2019-11-11 • Updated
Recommendation:
BUY 1225
SL 1210
TP1 1248 TP2 1255 TP3 1263
On the daily chart of XAU/USD, bears couldn't keep the pair within the 1185-1215 consolidation. It signals their weakness. A break of the upper boundary of the downward channel will increase odds of the rise to the 127.2% target of the AB=CD pattern.
On H1, the "Wolfe waves" pattern keeps forming. A successful test of the resistance at 1225 will let bulls hope for the implementation of the "Shark" pattern. Its 113% target is near 1248.
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