Hello.
Regarding my last analysis of gold's possible movement, I checked 30 min time frame and saw another possible pattern to convergence with the navarro200 pattern on 1h and 4h time frame.
as you can see on the chart, there's a possible Deep crab pattern and the target is 1280, and that is the "B" spot of the mentioned navarro200 pattern. so I expect a bearish move toward 1280 then a bounce to 1286 then moving forward to meet 1277.8 or lower.
another thing to mention, gold can stop at 1283.5-1284 for completion of a "Garley" pattern and a correction wave then again bearish till 1280. if this scenario happens, then we have so many patterns to convergence with each other, such as the mentioned Gartley, mentioned Deep crab, 3 drive and the bigger navarro200 pattern.
In conclusion, I predict a bearish movement for now on Monday and Tuesday.
I'll keep it updated with new analysis about gold next week.
Regarding my last analysis of gold's possible movement, I checked 30 min time frame and saw another possible pattern to convergence with the navarro200 pattern on 1h and 4h time frame.
as you can see on the chart, there's a possible Deep crab pattern and the target is 1280, and that is the "B" spot of the mentioned navarro200 pattern. so I expect a bearish move toward 1280 then a bounce to 1286 then moving forward to meet 1277.8 or lower.
another thing to mention, gold can stop at 1283.5-1284 for completion of a "Garley" pattern and a correction wave then again bearish till 1280. if this scenario happens, then we have so many patterns to convergence with each other, such as the mentioned Gartley, mentioned Deep crab, 3 drive and the bigger navarro200 pattern.
In conclusion, I predict a bearish movement for now on Monday and Tuesday.
I'll keep it updated with new analysis about gold next week.
Trade closed: stop reached
Comment:
It did reach the targets that I mentioned in the previous analyses, but not the way I anticipated.