XAUUSD 4H
Price is finishing to form the inverted shoulder-head-shoulder pattern.
We wait for the price to break the pattern's neckline and look for purchases when the pullback forms, to start a new upward momentum.
The price also formed a descending wedge, formed the pullback at 61.8% fibo and started the new bullish momentum thus completing the last shoulder of the pattern.
We would seek as a first objective or as a final objective, that the price reached the ema 200 (dynamic resistance).
The target would have to be about 600 pips up to 1802 approx, to fully complete the formation, complying with the rules of the shoulder-head-shoulder pattern.
Price is finishing to form the inverted shoulder-head-shoulder pattern.
We wait for the price to break the pattern's neckline and look for purchases when the pullback forms, to start a new upward momentum.
The price also formed a descending wedge, formed the pullback at 61.8% fibo and started the new bullish momentum thus completing the last shoulder of the pattern.
We would seek as a first objective or as a final objective, that the price reached the ema 200 (dynamic resistance).
The target would have to be about 600 pips up to 1802 approx, to fully complete the formation, complying with the rules of the shoulder-head-shoulder pattern.
