JoE

A nice trading opportunity chart pattern setup explained

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
an hour ago
*** THIS IS NOT AN ADVICE, DO YOUR RESEARCH AND TRADE WITH YOUR OWN RESPONSIBILITY***

XAUUSD just flashed a buy signal.
The Inverted H&S pattern neckline has already broken, and if we look closely at 4 hour chart, a pullback testing the neckline as support further confirms the fact.
Inverted head and shoulders pattern has a success rate of 79%~88% depending on the source of information.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.