🗿 Head & Shoulders Pattern
Left shoulder → Head (~3 366 $) → Right shoulder near the downtrend line
A close below 3 283 $ would validate the shoulder break and signal a bearish turn
🔄 Pullback to 3 283 $?
After the H4 close under 3 283 $, expect a quick retest of that level to hunt stops
Perfect short entry if the H&S holds
🎯 OTE Support Trap
Just below lies last week’s Optimal Trade Entry zone (3 260–3 270 $)
Gold often fakes lower here before resuming the rally
⚔️ Scenarios
Bearish : Close < 3 283 $ → retest 3 283 $ → drop to 3 240 $ / 3 200 $
Bull trap : bounce off OTE → trap of retest 3 283 $ → rally back to 3 330–3 350 $
🌍 Macro Note
Geopolitical tensions (Ukraine/Russia) keep Gold bid as a safe haven
No major bearish catalyst yet—watch for a potential trap
👉 Key Level: H4 close under 3 283 $. Use the retest to confirm your bias!
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.
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.