VasilyPonomarev
Short

GOLD: Aggressive counter trend trade

FX:XAUUSD   Gold Spot / U.S. Dollar

After a bearish breakout of a major support level
bears are exhausted and the market starts a correction cycle.
Head and shoulders pattern is a clear indication of bears unwillingness to go lower,
so we can catch a pullback.

Buy the breakout of a neckline.
Targets based strictly on structure.

Find more analysis on gold in related ideas.

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