Gold Spot / U.S. Dollar

XAUUSD Possible H&S

Updated

Possible H&S forming on M15.

First TP: 1504

Second TP: 1498

Note

Right shoulder looks complete. Highest it reached was 1503. Now we want to short gold.

Note

To be safe - wait for the right shoulder to reach neckline. at 1501 and show a downside confirmation before shorting.

Trade closed manually

H&S did not follow through with a drop below it’s neckline and bounced off the resistance line. H&S is no longer valid.

Secure profits and close your trades.

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