tradafx

Price moves in the Sideway zone with XAUUSD

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
H1 time frame.
Structure: Uptrend.
At the current XAUUSD is moving sideways from 1845 - 1870.
With the current momentum weakening and a high probability of a Head and Shoulders reversal pattern, here we wait for the price to break the Key level at 1845.
After the price breaks Key level 1845, wait for the signal to confirm the downtrend, then you can look for selling opportunities.
The profit target is the 1800 price zone.
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