Could this be the end of Gold corrective bearish trend?
Approximately two hours ago, my market analysis indicated a high probability of an impending Gold price rally. As anticipated, the price has since moved by 80 pips, confirming my initial prediction. My technical analysis has identified a significant harmonic reversal pattern on the M30 chart for Gold, which provides further validation for my bullish bias.
Furthermore, the bullish crab pattern observed in the chart analysis suggests that the corrective bearish move on the pair may have reached its conclusion.
Note that price has reached the supply zone, which serves as my first profit-taking zone. In the event that the supply zone and harmonic pattern hold, I anticipate a potential temporary drop in price to 1810-1811 in order to respect the supply zone, followed by a continuation of the bullish move towards completing the reversal at 1825.75.
Furthermore, the bullish crab pattern observed in the chart analysis suggests that the corrective bearish move on the pair may have reached its conclusion.
Note that price has reached the supply zone, which serves as my first profit-taking zone. In the event that the supply zone and harmonic pattern hold, I anticipate a potential temporary drop in price to 1810-1811 in order to respect the supply zone, followed by a continuation of the bullish move towards completing the reversal at 1825.75.