Possible Head & Shoulders Pattern | XAUUSD Short
XAUUSDHead and Shoulders pattern in the making?
The right shoulder will be formed at 61.8% Fib level.
50 EMA might provide additional resistance.
Possible 1:6 RRR. If shorted at that shoulder.
Hope for the best.
What do you think?
Note
Price may form the right shoulder at 50% fib level and bounce from there. Evident through the rejections.Trade closed: target reached
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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.