Gold Buy Setup

FX:XAUUSD   Gold / U.S. Dollar
527 7 18
Details on chart
Comment: Opposite option... Head & Shoulder Pattern formation on 4hr.

I am still long and taking risk..

Comment: Gold confirmed opposite option of 4hr head and shoulder.. i have sell order triggered at 1234.. and buy will be stopped at 1228.
Comment: For now break of 1231 will target towards 1225
Comment: Another Sell scalp Trade with Stop little above 4hr candle at 1235.
Opened from 1231.5
Comment: Gold fallen below neckline support of 4hr Head & Shoulder.. My buy deal was negative but my other 2 deals covered all losses and now in profit.
Next target 1218/17
Comment: I closed my deal from 1231.5 with profit close to 1225 to cover loss of buy deal.
Comment: Gold with old supports and with trendlines. Gold short till now 1235 and only break of 1245 will change direction.. For now momentum is only sell..

Important data in Asian session of China.

on daily chart, I see a Shoulder Head Shoulder - in XAUUSD... to that, take a look in DXY: if it raise up, gold will fall further
newbie2016 m4riovolp3
I am totally agree with you.. not on daily but on 4hr as well...

newbie2016 m4riovolp3
now fall below 1234 will be bit shaky.. but if it remain above then consolidation to upside.
imho, it is a high risk idea... don't forget - the trend is your friend. The market wanna see gold down to 1202 (+/- 5$). I can see here, how many LMT orders & future contracts are short... Nevertheless , try it: I wish you success and a lot of profits... :)
+1 Reply
newbie2016 m4riovolp3
I have sell order at 1234... and buy will be stopped out at 1228.. upon more googling i found that 4hr head and shoulder pattern..
same <
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