GOLDTREND-NET

Inverse Head & Shoulders Pattern

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold dipped to support zone at 1267-1270 but was unable to break down. Price recovered to daily-weekly support at 1275-1276. An inverse head & shoulders pattern can be spotted on the 1-hour chart. Now price is testing neckline resistance. If price has a breakout over neckline, price will head to resistance zone at 1284-1286.

Website
http://www.goldtrend.net
Comment: Price breaks out. Waiting for price to re-test neckline then buy.
Trade closed: target reached: Hit our take profit level

Comments

@GOLDTREND-NET congratulations! Good luck with gold!
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GOLDTREND-NET BillCharison
@BillCharison, thank you. Good luck with cryptos. I do trade bitcoin once in a while so let's exchange ideas for BTC.
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