(XAUUSD 12H) Gold forming a very interesting WEDGE
(XAUUSD) Formed a new high in August 2020, since then price has been falling looking for support to continue up.
We could be forming a head and shoulders on a higher TF such as DAILY and 12 Hour chart.
KEY LEVEL:
LOCAL SUPPORT - $1686.00
CURRENT RESISTANCE - $1828.00
MORE RESISTANCE -$1910.00
ALL TIME HIGH - $2074
TARGET 1: $1750
TARGET 2: $1720
TARGET 3: $1686
Ideally looking for a bounce around $1686.00 , filling the imbalance created on August 9th which is our local support
Head and shoulders INVALID if we break above $1828 on higher TF
HAPPY TRRADING
We could be forming a head and shoulders on a higher TF such as DAILY and 12 Hour chart.
KEY LEVEL:
LOCAL SUPPORT - $1686.00
CURRENT RESISTANCE - $1828.00
MORE RESISTANCE -$1910.00
ALL TIME HIGH - $2074
TARGET 1: $1750
TARGET 2: $1720
TARGET 3: $1686
Ideally looking for a bounce around $1686.00 , filling the imbalance created on August 9th which is our local support
Head and shoulders INVALID if we break above $1828 on higher TF
HAPPY TRRADING
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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.