XAU/USD: Shark pattern but watch out: strong 'up' impulse!

This one might be tricky since we had a strong bullish impulse move today and it is therefor very well possible that a possible retracement will be limited or even non-existent...

I am however willing to risk a small position on it with tight SL a bit above the high at the possible shark's C point.

In case the retracement down picks up a good target will be the 50% retracement or the reciprocal AB=CD which would complete a possible 5-0 pattern.

I just entered at market, if the 'up' impulse continues it could be over very soon...

Komentarz:

Trail SL to 1274 to reduce risk, or even to BE to eliminate risk entirely!

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