Potential Head and Shoulders Pattern on the 1H XAUUSD Chart
As you can see, there is a possibility of a head and shoulder price action pattern forming on the 1H XAUUSD.
With price being bullish most of the week, XAUUSD has a lot of downside to play and thus I would enter into a position once price has broken the current support.
I'd keep a look out on this pair and trade carefully on a smaller timeframe.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
With price being bullish most of the week, XAUUSD has a lot of downside to play and thus I would enter into a position once price has broken the current support.
I'd keep a look out on this pair and trade carefully on a smaller timeframe.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.