LukeSeven
Short

Head & Shoulders pattern inside of the Symmetrical Triangle

FX:XAUUSD   Gold/U.S. Dollar
Short Term Market Direction prediction :

Recently spotted symmetrical triangle within an ascending direction of Gold's recent moves ( 2 Higher lows and 2 higher highs ) It seems the 3rd one hasn't been made just yet ... According to this possible head & shoulders pattern formation inside of the Symmetrical triangle I've just spotted today, and the strong positive US data which helped me to kind of predict the price move, might lead to the test of 1277 support lvl             before it goes higher. Thanks to well expected bounce off from the strong symmetrical triangle resistance trend line, it just might take down direction for couple days from today and come back higher next week .. Do not hesitate to make agree/ disagree comments below.
VladimirGas
2 years ago
nice one. however the last, current triangle already made three higher lows and todays dip was bought out pretty fast, what do you think of this? to me it looks like the price might break 1310 without retracement
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LukeSeven VladimirGas
2 years ago
I guess It will break 1310 in order to test 1330, but first it might get somewhere around 1282 or even lower in my opinion. The 3rd higher low could be somewhere around 1282 ... I see only 2 higher lows just yet. I don't count the very first one. It shouldn't be taken in a consideration as higher low because this is the lowest point within the symmetrical triangle and therefore it cannot be higher low, but that's just my opinion .
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