GOLD Created A Clear Reversal Pattern Again, 1000 Pips Waiting !
Here is my 30 Mins Chart On GOLD Again The price Created a very clear reversal pattern ( Head & Shoulders ) and the price made a very good Bearish price action now from the Good Res Area but the price didn`t confirm the pattern by closing below the neckline. so we can enter a sell trade when the price close first below the neckline to confirm the pattern and then waiting the price to go back to retest the broken neckline to can use a small stop loss or if the closure not far from the neckline we can enter directly after closure below it , when we have a retest for the broken neckline give us more confirmation to be sure it`s a real breakout so we can use a decent stop loss , and we can targeting from 200 to 400 Pips with a decent stop loss . also we have another place we can sell from it , 4300.00 it will be my second place to enter another sell trade cuz it`s a very strong res so if we have a good touch and good bearish price action we can enter a sell trade from it if we have not a closure below our neckline for the pattern .and if we have not a bearish price action at this res also then the price might go up again . if we have not a closure below neckline then this idea will not be valid anymore .
Reasons To Enter :
1- Clear Reversal Pattern
2- Clear bearish Price Action .
3- Bigger T.F Giving Good bearish P.A .
4- Waiting For Confirmation .