GOLD | HEAD & SHOULDERS FORMATION | LONG-TERM
* Keep in mind this is just an idea, trade at your OWN risk! *
1 ) As you can see, this market seems to be giving us a H&S formation. Price is currently at what may be the "Right Shoulder."
2 ) You may also see two boxes marked "50% Fib Retracement" and "61.8% Fib Retracement." This is where I anticipate for Gold to rise and where it may start giving us indications for shorting opportunities. Those are the areas where my Risk Takers would enter to short the market.
3 ) Now, to avoid any unnecessary risks, wait for price to close & re-test below the "Neckline." Then you may enter.
4 ) Do not forget this is in the 4H frame. IF this goes as expected, for this to conclude may take several days. So PLEASE PATIENT.
Good luck guys!
1 ) As you can see, this market seems to be giving us a H&S formation. Price is currently at what may be the "Right Shoulder."
2 ) You may also see two boxes marked "50% Fib Retracement" and "61.8% Fib Retracement." This is where I anticipate for Gold to rise and where it may start giving us indications for shorting opportunities. Those are the areas where my Risk Takers would enter to short the market.
3 ) Now, to avoid any unnecessary risks, wait for price to close & re-test below the "Neckline." Then you may enter.
4 ) Do not forget this is in the 4H frame. IF this goes as expected, for this to conclude may take several days. So PLEASE PATIENT.
Good luck guys!
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