Gold’s Inverse Head and Shoulders PatternThe price has been dropping steadily and consistently so far. Check out my previous analysis:
Or click on the attached idea on my chart.
But here’s the thing, momentum is starting to shift.
If you look closely, you'll see that we’re forming an inverse Head and Shoulders pattern. We have the first low, the left shoulder. Then, a deeper low, the head. And finally, a slightly higher low, the right shoulder.
Right now, price is sitting just above that downward-sloping neckline, which is a clear sign that momentum is beginning to change, and there are few obstacles in its way.
My expectation is for a pullback to retest the neckline, filtering out any fake moves, before potentially pushing upward toward 4,085. If the bullish momentum continues with strong volume, I’ll lock into the trend and plan my entry accordingly.
I might even take a buy position here for a more proactive setup. The risk is slightly higher, but with the market structure confirming it, I’m ready to enter because sometimes, the best trades come when you trust your setup.
Just sharing my thoughts on the chart, not financial advice. Always confirm your setup and manage your risk wisely.
