GOLD ---> a continue h&s pattern
Updated
hello guys!
I'd like to bring your attention to the current situation in the gold market. Gold is currently forming a head and shoulders pattern, but it is important to note that this pattern is indicating a downward movement and a bearish trend specifically within the 15-minute time frame.
Considering these circumstances, it would be wise to exercise patience and avoid rushing into any hasty decisions until the price either breaks the neckline (which would suggest a reversal pattern) or continues its current trend. Once this occurs, you can then make an informed decision regarding your position.
If, however, you are inclined to take a position at this time, it is logical to consider a short position given the prevailing bearish trend.
What are your thoughts on this matter?
____________________________
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment
I'd like to bring your attention to the current situation in the gold market. Gold is currently forming a head and shoulders pattern, but it is important to note that this pattern is indicating a downward movement and a bearish trend specifically within the 15-minute time frame.
Considering these circumstances, it would be wise to exercise patience and avoid rushing into any hasty decisions until the price either breaks the neckline (which would suggest a reversal pattern) or continues its current trend. Once this occurs, you can then make an informed decision regarding your position.
If, however, you are inclined to take a position at this time, it is logical to consider a short position given the prevailing bearish trend.
What are your thoughts on this matter?
____________________________
always do your research.
If you have any questions, you can write them in the comments below, and I will answer them.
And please don't forget to support this idea with your likes and comment
Trade closed: target reached
the first area's target hitTrade closed: target reached
the second target reached
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telegram channel: t.me/melikatrader94
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