Lucahnt

XAU/USD Prediction of a H&S Structure

FX_IDC:XAUUSD   Ouro/Dólar Americano
195 vizualizações
3
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.