XAUUSD Gold Technical Overview

Our medium-term Gold Short Trade reached the target. Price tested $ 1286

Latest technical readings indicate bearish continuation. And the first key support resides 1269.38 where a major Bullish Reversal Three Drives pattern would be completed.

We plan to sell potential pullbacks towards 1296 - 1300 region.

We have a Bullish Shark Pattern for intraday traders.

Trade Setup is as follows:

Pattern: Bullish Shark

Recommended Lot Size: 0.10 Lots @ 10 K

Accuracy: 86%

Entry: 1287-1285

Stop: Below 1280

Target1: 1291

Target 2: 1296

Target 3: 1300

Note: Target levels are determined by MM Calculation. They may vary 3-5 pips according to the completion level of the predicted patterns.