Gold's Inverted Head & Shoulders: Bullish Run to $2400?

Hi Realistic Traders, let's delve into the technical analysis of XAUUSD

Gold has rebounded around the EMA200 line more than three times, simultaneously forming an inverted head and shoulders pattern. Recently, it broke the neckline with a bullish marubozu candlestick, a strong indicator of potential bullish continuation. This breakout, coupled with the bullish candlestick, suggests a likely move to the designated first target area. Afterward, we anticipate a minor pullback before a continued rise to the second target at $2428.

It is essential to note that the analysis will no longer hold validity once the target/support area is reached.

Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GOLD."

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Komentar:

The breakout continues with impulsive candlestick :D

Trade aktif:

Retested the trendline and moving upward again, bullish trend may continues

Trading ditutup: stop tercapai:

Yuph hit stop loss, it may be because better than expected NFP Data