Gold Spot / U.S. Dollar

Short

Possible Head & Shoulders Pattern | XAUUSD Short

Updated

Head 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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