Gold Spot / U.S. DollarUpdated Head and Shoulders Breakdown – Potential Short Setup
Pattern: Classic Head and Shoulders forming a bearish reversal.
📍 Key Levels:
Left Shoulder: 2911.78
Head: 2942.69
Right Shoulder: 2929.38
Neckline: Break below 2901.09 confirms downside
📊 Trade Plan:
✅ Short Entry: On a retest of 2918.58 (Fib 61.8% pullback)
🎯 Final TP Target: 2859.49 (Measured move projection)
❌ Invalidation: Above 2930 (right shoulder breach)
💡 Confirmation Signals:
🔹 Volume: Watch for declining volume on pullback, followed by strong selling pressure on breakdown.
🔹 Break & Retest: If price retests the neckline but fails to reclaim, it strengthens the bearish case.
📉 Bearish Bias Until 2859.49 – Let's see how this plays out!
#HeadAndShoulders #PriceAction #Forex #Crypto #Stocks
📍 Key Levels:
Left Shoulder: 2911.78
Head: 2942.69
Right Shoulder: 2929.38
Neckline: Break below 2901.09 confirms downside
📊 Trade Plan:
✅ Short Entry: On a retest of 2918.58 (Fib 61.8% pullback)
🎯 Final TP Target: 2859.49 (Measured move projection)
❌ Invalidation: Above 2930 (right shoulder breach)
💡 Confirmation Signals:
🔹 Volume: Watch for declining volume on pullback, followed by strong selling pressure on breakdown.
🔹 Break & Retest: If price retests the neckline but fails to reclaim, it strengthens the bearish case.
📉 Bearish Bias Until 2859.49 – Let's see how this plays out!
#HeadAndShoulders #PriceAction #Forex #Crypto #Stocks
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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.