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XRPhoenix

XAUUSD descending channel and H&S formation

Short
Gold Spot / U.S. Dollar (FX_IDC:XAUUSD)  
XRPhoenix Updated   
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Trend Lines Head and Shoulders Support and Resistance Gold dropping long-term 1300 Descending Channel
4
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trendline headandshoulders supportandresistance gold dropping long-term 1300 descendingchannel
Potential long-term H&S formation. Price is getting rejected at the trend line. On the 1H time-frame fib 78,6% has been touched perfectly. I have entered short, tight SL 1621 or for any potential wickfishing up to 1638 just in case as it doesn't affect much the RR is still nice 18.1 with TP-1 around 1424.

NB! This is no trading advice, do your own analysis!
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Trade closed: stop reached
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