JasonSong

GOLD, a head&shoulder pattern forming!

FX:XAUUSD   Gold Spot / U.S. Dollar
GOLD , a head&shoulder pattern forming!

Baically Gold is trying find a rather steady way to breakthrough, that's why we can s this pattern from the Chart H4.

Now Gold is facing the challenge from the right part of the "neck line"=L1225.

We will see a breakthrough after this H4 ends well with a big red candle, which is Plan A, otherwise it may fall back to yellow trend line and implement Plan B.

So generally, I this this patter is still quite attactive for those who want to go long with Gold , but we need a positive signal to confirm, which is a big red candle.

Resisitance: 1230, 1235, 1240 and 1245.
Support: yellow trend line , blue trend line , 1220 and 1212.

Let wait and see.
Good luck with you trading!
Comment: Two targets hit!!
Pay attention to the retrace to 1330 and keep rising.
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