aibek

Gold update: Head & Shoulders could emerge

Short
TVC:GOLD   CFDs on Gold (US$ / OZ)
I combined both H&S pattern with EW analysis.
On EW side we see the 1st impulse down and now we are in a pullback ABC .
The C wave is pending. It is probably the initial move down in gold within a huge drop down
at least we could see 1200 again and it depends on what structure would unfold then.

Pattern is simple and we should watch the breakdown of the Neckline.
Target is at 1409.
Trade closed manually: pattern has not been developed as planned

Comments

Please look at my silver chart if you have a chance as I am expecting a potential break down.
Reply
aibek ChartProphet
@ChartProphet, I also see it lower but we can have some junction between 2nd leg down
Reply
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