XAUUSD Possible H&S

OANDA:XAUUSD15

GoldOANDA

Description

⋅ Sep 17, 2019 8:24 PM

Possible H&S forming on M15.

First TP: 1504

Second TP: 1498

Comment

⋅ Sep 18, 2019 5:49 AM

Right shoulder looks complete. Highest it reached was 1503. Now we want to short gold.

Comment

⋅ Sep 18, 2019 6:07 AM

To be safe - wait for the right shoulder to reach neckline. at 1501 and show a downside confirmation before shorting.

Trade closed manually

⋅ Sep 18, 2019 9:29 AM

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 H&S is no longer valid.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.

Comments

johnvu2015

⋅ Sep 18, 2019 3:54 AM

Good ideas ! Thank you !

AlzyM

⋅ Sep 18, 2019 5:50 AM

@johnvu2015, Thank you for the kind words!

corndogg92

⋅ Sep 17, 2019 8:45 PM

I like the look of this seems to be moving your way

AlzyM

⋅ Sep 17, 2019 8:48 PM

@corndogg92, Thank you! Yes so far so good. I did place a tight SL but it is necessary.

corndogg92

⋅ Sep 17, 2019 8:56 PM

@AlzyM, best to play it safe especially with gold, good luck I’m waiting it out for a entry tomorrow

AlzyM

⋅ Sep 17, 2019 11:23 PM

@corndogg92, Thank you. Good luck with your trade. I look forward to seeing it if you decide to post it.

CAM0196

⋅ Sep 19, 2019 12:03 PM

Great trade so far so good

AlzyM

⋅ Sep 17, 2019 8:25 PM

Let me know what you guys think about this. Please follow me and leave a like on the idea if you agree with this idea.