- I updated an idea on Gold yesterday, price has not yet reached the level at which i was hoping a reversal would come.
- However, price looks like it may be forming an inverse H + S bullish reversal pattern/ formed a double bottom.
- If Double bottom, then price has already broken the neckline ( ~1249.2) , therefore I will wait for a retest of the neckline/rejection before entry
- If price were to retest this level and form a rejection candle this would also complete the larger Inverse H + S pattern seen.
Would really appreciate any thoughts/ comments on these two formatins.
Thanks for reading,
James
- However, price looks like it may be forming an inverse H + S bullish reversal pattern/ formed a double bottom.
- If Double bottom, then price has already broken the neckline ( ~1249.2) , therefore I will wait for a retest of the neckline/rejection before entry
- If price were to retest this level and form a rejection candle this would also complete the larger Inverse H + S pattern seen.
Would really appreciate any thoughts/ comments on these two formatins.
Thanks for reading,
James
- Coincides with 1250 pyscological level
- Waiting to look for rejection around this area