Get started
UKTRADERS21

TREND FOLLOWING TRADE FROM DAILY RESISTANCE

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
UKTRADERS21  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Support and Resistance Head and Shoulders
3
0
trendanalysis supportandresistance headandshoulders
I am expecting a trend-following short trade from the current daily resistance. If we look at the 1-hour chart, a head and shoulders pattern has formed, and its neckline has broken below. Now, on the retest, we will take the trade.

Entry 2031.00
Stop loss 2052 00
Targets 1996.15 & 1974.74
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.