Break in the bullish TrendLine, H&S Sell-off Begins

Most People will say that Gold is still Bullish, of course the Higher the Time-Frame, the Higher the posibility that more people are seeing the same pattern. but for more buying positions to be set, i do believe that buyers will be waiting for the weekly 50% Fib level, so for now i hold a bearish bias.

this year, we saw Gold be able to reach great highs, a strong Bullish Trendline was formed and volume across the globe peaked. Last week this TrendLine was broken and a nice clear H&S pattern was created.

For this Trade i would wait for retest in the neckline to finaly place a Short and hopefully we will be able to reach that very Important (50%) Fibbonacci Level.