alexpatootie

Possible Head and Shoulder in 1H TF

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Keypoints:

1. RSI of both Head and 1st Shoulder is below 30
2. There is a regular divergence in the RSI.
3. Possible Two bottoms in 1Hr earlier did not respect the candle.


Wait for these ff:
1. 2nd shoulder must retest in the Shoulder Area. IF NOT, SHOULDER SHOULDN'T be lower or to be in the same level of your head.
2. Engulfing candle in the Shoulder Area (when 2nd shoulder occured) > You can enter here
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