UpgradedSalmon
Short

Vague head and shoulders showing potential for a short on XAUUSD

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Whilst remaining in a bullish pattern XAUUSD seems to not be able to break the previous highs. A small trend reversal seems imminent to 1278 at which it will meet slight resistance. Keep in mind that XAUUSD is able to fall to 1260 to remain in an overall bullish trend on monthly view. However, for now a re-trace seems inevitable.
'Bear' in mind this is a simple analysis from your local Salmon . Do not take my words as sacred truths, if you don't catch this one, there's plenty more fish in the sea.
Happy trading, I would be glad to get feedback and other ideas.
Trade closed: target reached: XAUUSD dropped a few pips down, cheeky profit made. However it can’t seem to breach 1282. Long from here as may see a retest at 1300

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