edisonamb

GOLD - Possible Short

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
An idea for the upcoming week to think about. Gold has formed a Head & Shoulders pattern (these patterns indicate trend reversals), however, taking this trade wouldn't be in my interest until it breaks the support (neckline) level & retests the previous broken support as resistance. If that cant happen, I deem this trade invalid. Once it breaks the trendline & the support level , we can expect to see bears enter this market to push it longer.

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