Head and shoulder on Gold
A great run for gold these past few months may come to an end soon... a huge head and shoulders pattern has formed... through Elliot wave the downside target is around 1450... a break of 1525 would invalidate my idea and could suggest further upside...Not taking a position just yet but my bias is to the downside... A break of 1480 would prompt me to take half a short position...
Note
Idea likely to become invalidated as trade tensions rise again... equities may soon correct as wellNote
INVALIDATED
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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.