XAU USD
Through this analysis, we can predict the formation of a drop to complete the Head and Shoulders pattern.
Not only is the middle volume a Head and Shoulders pattern itself which successfully mirrored itself ( depending on your position ) but we can see the left shoulder and the right incomplete shoulder.
Obviously, when markets reopen in a few hours it is wise to observe the behavior of the right shoulder, it might create a lower high then start slowly dropping until it picks up speed and hits the lower low of 30 November, obviously place your SL and TP accordingly and happy trading.
Through this analysis, we can predict the formation of a drop to complete the Head and Shoulders pattern.
Not only is the middle volume a Head and Shoulders pattern itself which successfully mirrored itself ( depending on your position ) but we can see the left shoulder and the right incomplete shoulder.
Obviously, when markets reopen in a few hours it is wise to observe the behavior of the right shoulder, it might create a lower high then start slowly dropping until it picks up speed and hits the lower low of 30 November, obviously place your SL and TP accordingly and happy trading.