There is a very basic and simple head and shoulder pattern forming on Spot Gold just below the $1700 per ounce level.
Bullish trendline broken, lower high seems to be made and if you convert the chart to a line chart, the left shoulder/head/right shoulder looks quite clear. Obviously this is a risky trade considering the current fundamental situation but the pattern trade looks to be valid.
Bullish trendline broken, lower high seems to be made and if you convert the chart to a line chart, the left shoulder/head/right shoulder looks quite clear. Obviously this is a risky trade considering the current fundamental situation but the pattern trade looks to be valid.
Trade attivo:
Almost 1/2 way to the $1600 target
Trade chiuso: obiettivo raggiunto:
Trade close at $1598 (slippage)
