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Gold Spot / U.S. Dollar
Long

GOLD (XAUUSD): Update & The Thing to Watch🥇

By VasilyTrader
snapshot

Update for Gold.
The market keeps coiling on a key daily horizontal support.

Analyzing a 4H time frame, I spotted a potential inverted head & shoulders pattern.
The price has already completed the left shoulder, the head and currently it is forming the right shoulder.

1842 - 1850 is its horizontal neckline.
The trigger to buy Gold will be its bullish breakout (4h candle close above).
A bullish continuation will be expected to 1866 / 1879 levels then.

If the price sets a new low, the pattern will become invalid though.


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Candlestick AnalysisGoldgoldanalysisgoldlonggoldsignalsgoldtradergoldtradingHead and ShouldersMultiple Time Frame AnalysisXAUUSD
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