XAU/USD - Head and shoulders pattern appears ?

3月17日

🔔🔔🔔Gold news:

👉The price of gold (XAU/USD) remains firm around $2,985 after pulling back from its record high of $3,005 during the early Asian session on Monday. The weaker US Dollar and concerns about global economic uncertainty amid a potential trade war continue to support the precious metal. Investors are now focused on the upcoming US February Retail Sales data, set to be released later on Monday.

Personal opinion:
👉Gold prices remain in a long-term uptrend due to economic, political and war information in many regions

👉However, in the short term, gold prices will have a correction to gain momentum for the next main trend

👉Technically, gold is forming a head and shoulders pattern when it cannot break the old peak of 3005. Therefore, in the short term, there will be a decline. But gold will find it difficult to fall deeply, so be careful to limit selling.

Analysis:
👉Based on important resistance - support levels combined with trend lines and price action to come up with a suitable strategy

Resistance zone: 2994 -3005-3020
Support zone: 2980 - 2971 - 2956

Plan:
🔆Price Zone Setup:

👉Buy Gold 2,970 - 2,973 (Scalping)
❌SL: 2,975 | ✅TP: 2,983 - 2,986 - 2,990

👉Buy Gold 2,955 - 2,957
❌SL: 2,950 | ✅TP: 2,962 – 2,967 – 2,980

👉Sell Gold 3,010 – 3,012 (Scalping)
❌SL: 3,016 | ✅TP: 3,007 – 3,004 – 3,000

👉Sell Gold 3,019 – 3,021
❌SL: 3,025 | ✅TP: 3,015 – 3,0010 – 3,005

FM wishes you a successful trading day 💰💰💰

3月18日

交易進行

unlucky
missed 20 pips to enter 3019
missed 110 pips profit (down to 3007)
Cancel Sell 3019

3月21日

交易結束：目標達成

The initial goal has been achieved.