AlphaDreams

Gold H&S lining up with Harmonic retrace.

FX:XAUUSD   Gold Spot / U.S. Dollar
Watching for patterns to complete. Down needed to reach neckline. Complete the harmonic , if it doesn't fall too low it should be valid to retrace to either 38.2% or 61.8% to form right shoulder, then drop. Lining this up with large US events. As always, levels are more accurate I feel than time. So we'll see when it all plays out, if it does.
Comment: Technically the neckline has been reached, however, my harmonic wants a bit lower... I'll show it in greater detail in anther image or published idea.
Trade active: Short trade was active since 1338. Scalping/intraday trading smaller TF movements.
Comment: Almost touched the target at D. I'll be watching closely if it goes down past this or retraces nicely for our setup. I a short from much higher but was collecting some small longs at 1250, 1247, have a few targets yet to be triggered (1245, 1240, 1238) but these targets will be removed if PA looks like it will dive past without a rebound.

Comment: 5M Gartley Bullish Pattern could start this up, or it could dive past the entry and make it invalid. Just wait, watch then trade.

Comment: Range trading as patterns form. ihs in RSI, bearish bat forming over giving possible reversal.

Comment:
Hi Alpha,
What if the Feds decided to increase the Interest rate on December this year after the election ?
It would cause more bearish pattern on XAU ? or even if Donald Trump win.
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