Head and Shoulders
Gold price seems to be trading in a head and shoulder pattern. The weekly timeframe also indicates that we are trending bearish. On the weekly timeframe we also have an inverted hammer (25 Dec 2023) which further confirms we are in a bearish trend.
The safe trade is displayed on the idea.
The aggressive trade is shown below in the image. ideahttps://www.tradingview.com/x/VchNNfuB/
The safe trade is displayed on the idea.
The aggressive trade is shown below in the image. ideahttps://www.tradingview.com/x/VchNNfuB/
Note
The aggressive trade is Entry: 2037.60
Stop Loss: 2045.93
Take Profit: 1950.55
The safe trade is
Entry: 2018.49
Stop Loss: 2028.10
Take Profit 1950.55
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.