- Gold looks to be forming an inverse H + S bullish pattern after price broke lower and invalidated my previous broadening wedge idea
- Shoulder support at the 1212 level, which was previous structure support
- Would need to see solid rejection at this level to confirm the second shoulder is being formed
- Furthermore, the RSI chart appears to be forming an exact copy of an inverse H + S on its own chart, not sure if this has any
significance to the overall pattern
- For the pattern to be validated we would need to see a break of the descending trend-line resistance acting as the patterns neckline
- If price were to break the shoulder neckline at 1212, this pattern would be invalidated , and we could see further moves lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- Shoulder support at the 1212 level, which was previous structure support
- Would need to see solid rejection at this level to confirm the second shoulder is being formed
- Furthermore, the RSI chart appears to be forming an exact copy of an inverse H + S on its own chart, not sure if this has any
significance to the overall pattern
- For the pattern to be validated we would need to see a break of the descending trend-line resistance acting as the patterns neckline
- If price were to break the shoulder neckline at 1212, this pattern would be invalidated , and we could see further moves lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL