XAUUSD H&S formation neckline broken
XAUUSD has been showing bearish signals since the head was printed. The daily showed bearish divergences.
The neckline has now been broken of this H&S pattern.
Should be getting a re-test of the neckline once more (the red zone) before moving down to a first target of 1436 and then 1405.
Good luck friends.
This looks like a good trade to be in.
The neckline has now been broken of this H&S pattern.
Should be getting a re-test of the neckline once more (the red zone) before moving down to a first target of 1436 and then 1405.
Good luck friends.
This looks like a good trade to be in.
Order cancelled:
Daily shows bullish divergence. Will get out of trade and wait for better short opportunity.
SPX bounced off 0.382 support. Should retest it however, there is a large bearish rising wedge on SPX. However, I think we will get a re-test of the top of the wedge and when this happens, gold will be going down.
1 more re-test for SPX and XAU will start going down.
Until then, XAU looks like it will be moving up.
SPX bounced off 0.382 support. Should retest it however, there is a large bearish rising wedge on SPX. However, I think we will get a re-test of the top of the wedge and when this happens, gold will be going down.
1 more re-test for SPX and XAU will start going down.
Until then, XAU looks like it will be moving up.
Big ooft
Expecting an evening star pattern with further downwards movement after this 4 hour candle closes.
Hidden bullish divergence will be printed also if evening star pattern is printed.
Obviously this is not 100% until the pattern actually comes through. Until then this is just a prediction.
I still believe the H&S pattern is in play and we should be moving down.