PATTERN FORMATION
XAUUSD is making Inverse Head & Shoulder Pattern on 4H Timeframe.
Gold should drop to 1831 level and make a wick at 1825 in order to make Right Shoulder, And will bounce back to 1848 area to complete its pattern.
REJECTION
Rejection at 1848
RESISTANCE
Resistance at 1848
SUPPORT
Weak Support at 1837
Strong Support at 1831
TRADE SETUP
NOTE:
Take Trade on CONFIRMATIONS
Manage Risk accordingly
DYOR
XAUUSD is making Inverse Head & Shoulder Pattern on 4H Timeframe.
Gold should drop to 1831 level and make a wick at 1825 in order to make Right Shoulder, And will bounce back to 1848 area to complete its pattern.
REJECTION
Rejection at 1848
RESISTANCE
Resistance at 1848
SUPPORT
Weak Support at 1837
Strong Support at 1831
TRADE SETUP
- Selling below 1825 (if pattern doesn't form)
- Buying Trend above 1848 (if pattern doesn't form)
TP1 200MA
TP2 Resistance at 1890
NOTE:
Take Trade on CONFIRMATIONS
Manage Risk accordingly
DYOR