🥇 GOLD True H&S or false?
Gold forms a preliminary reversal pattern. Price comes back to retest the strong resistance of 1920
1) Head & Shoulders pattern is formed.
2) If the price rebounds under 1920, a strong correction may start.
3) But in case the price breaks through 1920 upwards, it will go to 1929, 1940 or higher.
4) The price is in the long zone, if you are going to sell, then only after breakdown of 1908 downwards.
5) The trend is bullish (strong).
6) The priority is to look for a set-up for buying.
Presumably, the growth will continue, but the price forms a reversal pattern and consolidates under the strong level of 1920
1) Head & Shoulders pattern is formed.
2) If the price rebounds under 1920, a strong correction may start.
3) But in case the price breaks through 1920 upwards, it will go to 1929, 1940 or higher.
4) The price is in the long zone, if you are going to sell, then only after breakdown of 1908 downwards.
5) The trend is bullish (strong).
6) The priority is to look for a set-up for buying.
Presumably, the growth will continue, but the price forms a reversal pattern and consolidates under the strong level of 1920
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❤️ Telegram channel: t.me/AndeWave
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