Gold / XAUUSD Possible Cypher Pattern
still learning. *This is my view, and is not meant as advice for others to trade!
this pattern could be in the making. Let's see if price really goes down to the C leg, 1176.16. Going long from this point, could be rewardable on it's way to the D leg, 1199.76, where reversal is expected.
Once, if, at the D leg, 1st target is Fib retracement from C to D leg, at the .382 level and 2nd target will be at the .618 level.
Constructive comments/criticism appreciated :)
Safe trading
this pattern could be in the making. Let's see if price really goes down to the C leg, 1176.16. Going long from this point, could be rewardable on it's way to the D leg, 1199.76, where reversal is expected.
Once, if, at the D leg, 1st target is Fib retracement from C to D leg, at the .382 level and 2nd target will be at the .618 level.
Constructive comments/criticism appreciated :)
Safe trading