XAU/USD: Potential Bullish Gartley at Previous Structure Support

Looking at a very deep potential bullish Gartley here on XAUUSD that if completed would come right into previous structure support. The wicks created in that previous support zone made this an opportunity that I like regardless and having an advanced pattern complete at the same level just put icing on the cake. Very low risk opportunity compared to the potential reward as this chart has started to show us some consolidation.

Bigger picture, there are a few more setups on the horizon including the potential bearish Bat shown here in orange, but that should matter at this point unless you are a trader that uses such things as a way to shoot for extended targets.

We've got a brand new website over at www.tradeempowered.com so make sure you check it out, including an a blog post that I wrote today titled "Trading From A to Z" let me know what you think!

Until next time, plan your trad and trade your plan

Akil Stokes
Chief Currency Analyst
Trade Empowered: Live Your Passion
www.TradeEmpowered.com