Se-Ben

Bearish Pennant Forming on Gold H1

Short
Se-Ben Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Bearish Pennant forming on H1. It's also close to a quarter point 1775.00 so price could play around that area for a bit before continuing short. Waiting for a break of the trendline to the down side and a possible retest of the counter trendline to go short.
Trade active:
Pennant formation was invalid. Now on both the H1 and H4 time frames there is a head and shoulders pattern forming right on the quarter point. Waiting for a break of the neckline and possible retest. I am still short.
Trade closed manually:
Looks like a double bottom forming on the H4 time frame.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.