Gold H&S lining up with Harmonic retrace.
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.
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5M Gartley Bullish Pattern could start this up, or it could dive past the entry and make it invalid. Just wait, watch then trade.
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Range trading as patterns form. ihs in RSI, bearish bat forming over giving possible reversal.
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