Get started
AlzyM

XAUUSD Possible H&S

Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
AlzyM Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns XAUUSD
15
8
trendanalysis chartpattern xauusd
Possible H&S forming on M15.

First TP: 1504

Second TP: 1498
Comment:
Right shoulder looks complete. Highest it reached was 1503. Now we want to short gold.
Comment:
To be safe - wait for the right shoulder to reach neckline. at 1501 and show a downside confirmation before shorting.
Trade closed manually:
H&S did not follow through with a drop below it’s neckline and bounced off the resistance line. H&S is no longer valid.

Secure profits and close your trades.
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.