Hi traders,
After a successfull sell off ollowing a sccessful bearish wave we see the XAUUSD/ Gold commoditity pull back on the resistence of our monthle bearish channel. We will now call it our support. The pullback will lead us back to the neckline of our double bottom which was from to complete it. Once completed, we anticipate a massive sell off to the crashing XAUUSD commodity. The second option is that it violated the double top, in this case, we will wait for a tripple top to form and catch it after three confirmations.
#Preciousmetals #XAUUSD #Goldcrash
After a successfull sell off ollowing a sccessful bearish wave we see the XAUUSD/ Gold commoditity pull back on the resistence of our monthle bearish channel. We will now call it our support. The pullback will lead us back to the neckline of our double bottom which was from to complete it. Once completed, we anticipate a massive sell off to the crashing XAUUSD commodity. The second option is that it violated the double top, in this case, we will wait for a tripple top to form and catch it after three confirmations.
#Preciousmetals #XAUUSD #Goldcrash
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"After a successfull sell off, we see the XAUUSD / Gold commoditity pull back on the resistence of our monthly bearish channel, we will now call it our support. The pullback will lead us back to the neckline of our double top which was formed earlier this year. Once completed, we anticipate a massive sell off on the crashing XAUUSD commodity. The second option is if it violates the double top, in this case, we will wait for a tripple top to form and catch it after three bearish confirmations. "
Thanks for understanding.
Regards,
NASDAQ Guru team.