Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
XAU/USD: the gold is strong
2019-11-11 • Updated
BUY 1,251 SL 1,236 TP1 1,271 TP2 1,287 TP3 1,308
On the daily chart of XAU/USD, the rebound from the support at 1,239 helped to open long positions. The gold needs to break the December's maximum to continue rising towards the 161.8% target of the AB=CD pattern.
On H1, the target of the "Wolfe Waves" pattern was reached. The reversal towards the 23.6% target of the "Shark" pattern's CD wave as a part of its transformation into the 5-0 pattern gave an opportunity to open long positions. If the December's maximum is retested, the junior AB=CD pattern with the 200% target will be implemented.
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!
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