Possible short opportunity on XAUUSD soon
XAUUSD looking bearish because...
1. Head and Shoulders pattern forming on the 1D chart.
2. Price is retesting 1830, a major resistance.
HOWEVER
Price may continue to around 1845-50, due to there being a liquidity pool there, but once it reaches there price could possibly drop to 1800 because...
1. Double top pattern forming if price reaches 1850.
Wait until US jobless claims are released on 10th Feb to determine where price could go.
1. Head and Shoulders pattern forming on the 1D chart.
2. Price is retesting 1830, a major resistance.
HOWEVER
Price may continue to around 1845-50, due to there being a liquidity pool there, but once it reaches there price could possibly drop to 1800 because...
1. Double top pattern forming if price reaches 1850.
Wait until US jobless claims are released on 10th Feb to determine where price could go.
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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.