🔸Hello traders, today let's review the 4 hour chart for gold. Speculative XABCD
setup in progress, going into FOMC expecting final pump before reversal from point C.
🔸speculative XABCD structure defined by point X at 1890 USD, point A at 1946 USD,
point B at 1905 usd, point C at 1961 usd, finally point D/PRZ at 1875 USD. This is
advanced entry strategy on sell side from point C / use discretion and tight SL.
🔸recommended strategy bears: expecting final pump going into FOMC and reversal
from point C / overhead resistance at 1961 USD. bear will target point D/PRZ at 1875
USD, strong risk/reward on sell side from overhead resistance. Once again, this is
higher risk / advanced setup on sell side, so use other indicators / systems to confirm
reversal from point C and also keep a tight SL at all times. good luck traders!
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