donaitelo

Gold - Easy head and shoulders

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Hello everyone, as we can see he have a beautiful head and shoulders pattern that we have broke bellow the neck line. We also see divergence on the weekly and monthly timeframe, so a bigger drop is most likely going to happen, because we had way too steep surge and we needed such pullback. For now we should trade only the head and shoulders with the given take profit, because given the unstabillity of the economy, gold might aswell rise a lot in the near future especially during the elections. We can sell
now and place the stoploss above the right shoulder. Good luck to everyone!
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