xauusd ---> is this a reversal pattern?!
Updated
hello guys...
my last analysis is kind of completed and I think the last one wasn't eye-catching! so I change the color.
in the daily time frame, gold formed an ascending channel as you can see:
the bottom line of the channel is forming a double head and shoulders, it is clear in that chart!
because this pattern happens in the bottom of the channel so it is more possible that the pattern become a reversal one, but I recommend you wait until the neckline breaks up the get a long position!
but if the head breaks down it means the parallel channel breaks down either, so the trend of gold changes to bearish in a daily time frame!
---------------------------------
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
my last analysis is kind of completed and I think the last one wasn't eye-catching! so I change the color.
in the daily time frame, gold formed an ascending channel as you can see:
the bottom line of the channel is forming a double head and shoulders, it is clear in that chart!
because this pattern happens in the bottom of the channel so it is more possible that the pattern become a reversal one, but I recommend you wait until the neckline breaks up the get a long position!
but if the head breaks down it means the parallel channel breaks down either, so the trend of gold changes to bearish in a daily time frame!
---------------------------------
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
Note
it is exhausting I need breaks out!
👉 my broker:: bit.ly/HYMCMELI
____
👉 my exchange: bit.ly/LbankMeli
____
👉 my Autotarder: bit.ly/btse
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
👉 my exchange: bit.ly/LbankMeli
____
👉 my Autotarder: bit.ly/btse
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Related publications
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.