XAUUSD > A Possible Big Head and Shoulders Pattern!
Analysis of #XAUUSD
A possible big head and shoulders pattern may break its neckline resistance level soon especially since now everything points to the FED raising the interest rate by 50 basis points next meeting
Trading Plan:
>> If the GOLD breakout to the downside and closes below its neckline support and below 1900 that will open the door to going 1850 and maybe more to 1800 as well, if we do break below support I will then look for a selling opportunity if the rules for entry are met.
⚡ Be aware due to the global tension we currently live In, markets are not following or respecting chart patterns and technical analysis.
________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.
Thanks for your continued support!
A possible big head and shoulders pattern may break its neckline resistance level soon especially since now everything points to the FED raising the interest rate by 50 basis points next meeting
Trading Plan:
>> If the GOLD breakout to the downside and closes below its neckline support and below 1900 that will open the door to going 1850 and maybe more to 1800 as well, if we do break below support I will then look for a selling opportunity if the rules for entry are met.
⚡ Be aware due to the global tension we currently live In, markets are not following or respecting chart patterns and technical analysis.
________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.
Thanks for your continued support!
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