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steveivan

XAUUSD is in the triangle of ABCDE correction

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
steveivan  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis Gold XAUUSD FOMC crypto Bearish Patterns Bullish Patterns
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trendanalysis chartpattern waveanalysis gold xauusd fomc crypto bearish bullish
With FOMC Statement tonight, i strongly believe that the Gold will still respect its triangle and continue to consolidate within it.

The current movement to around $1850 area can be determined as wave "D", which now it is on the 78.6% correction from "C", and of course we expect more downward movement to complete the cycle with "E"..

This is a good sell setup with stop above the trendline (triangle)..
BEWARE OF WILD SPIKE during the FOMC statement..


CHEERRSS....
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