Gold's Inverted Head & Shoulders: Bullish Run to $2400?
Hi Realistic Traders, let's delve into the technical analysis of
XAUUSD
Gold has rebounded around the EMA200 line more than three times, simultaneously forming an inverted head and shoulders pattern. Recently, it broke the neckline with a bullish marubozu candlestick, a strong indicator of potential bullish continuation. This breakout, coupled with the bullish candlestick, suggests a likely move to the designated first target area. Afterward, we anticipate a minor pullback before a continued rise to the second target at $2428.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GOLD."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below
XAUUSD
Gold has rebounded around the EMA200 line more than three times, simultaneously forming an inverted head and shoulders pattern. Recently, it broke the neckline with a bullish marubozu candlestick, a strong indicator of potential bullish continuation. This breakout, coupled with the bullish candlestick, suggests a likely move to the designated first target area. Afterward, we anticipate a minor pullback before a continued rise to the second target at $2428.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GOLD."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below
Kommentar:
The breakout continues with impulsive candlestick :D
Trade ist aktiv:
Retested the trendline and moving upward again, bullish trend may continues
Trade geschlossen: Stop wurde erreicht:
Yuph hit stop loss, it may be because better than expected NFP Data
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