Look at this chart and see a possible Shoulder Head Shoulder pattern forming in GOLD.
This could push GOLD very low again, because the typical target of an SHS pattern is the length of the HEAD projected in the opposite direction.
The right shoulder could also hit the down trendline again which it was not able to break for several times now, indicating big resistance at this level.
If you think this to be useful information:
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way i see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
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