Gold (XAUUSD): Your Trading Plan For Next Week 🟡

18 giu 2023

I spotted a peculiar falling trend line on Gold on 4H time frame.
It feels like the price is forming a head and shoulders pattern, respecting that.

To short the market with confirmation, watch the neckline of the pattern on Monday.
If the price breaks and closes below 1953 on 4H, it will confirm the initiation of a bearish movement.

A bearish continuation will be expected then to 1940 / 1933/

Alternatively, remember that a bullish violation of the neckline will invalidate the setup.

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