Inverted H+S TARGET AT 0.618 FIB so could push here and if we have any downside could see it reject off this key fib zone first so currently waiting on neckline break
Inverted H+S Pattern, previously never thought we would break 1825 however the market has shown us otherwise and set up my next trade, neckline break will also change the trend!!!
Inverted Head and Shoulders looking like a buy with DXY showing weakness
Inverted Head n Shoulders. looking like a buy from fundamentals and patterns.
We caught a nice swing to 13640 last week and this completes a inverted head and shoulders pattern also, anticipating more upside and targeting 13809
Very simple what needs to happen, inverted head and shoulders neckline re test. this will also re test the current uptrend we have and is supported by the fact gold must rise to test its daily H+S
We are edging close into a wedge in which we can't tell direction maybe only from price strength charts. as it stands I have a preferred bearish view as CAD has great ties with oil which we seen bluster and AUD has strong ties with metals which are anticipated to fall further short term.
Gold calls have been perfect, with a stronger dollar occurring short term we look to see it push down the value of gold. DXY aiming for 92/92.500, which would significantly drop the price of gold. Head and shoulders set up, neckline broke and awaiting re-test on 1D timeframe. look to add shorts around the 1825 level as long as we can turn temporarily previous...
Inverted H+S set up and a lot of retail selling which pushed me to buy
Wedging in and will have to pick a direction, it has a very strong up trend and has rejected the top several times so It may be time for the top half to break, I suggest waiting for breakout and more volume
CHF has a positive relationship with gold, we are anticipating a large drop in gold which could reflect on the currency, wait for the bear flag to break before sell
We could see CHF value drop as Swiss banks hold 25% of its reserves in gold. Gold looks set to double bottom at 1765 which would validate all patterns here.
AUDUSD looked to have a bull flag formation, buyers at the bottom had been stopped out by a SL potentially signalling a buy as larger players look to take them out before rising. DXY may put pressure on this pair with a bullish patter that has set up, however AUD has seen some great growth. I would only take a buy on this pair on a break of top bull flag trend
Trend-line test coming up, trend has been very strong support in the past. Also test key price zone as where it has previously paused it turned into support. any break here would signal a much larger move downward
Please read analysis before taking trades. below is a linked dollar guide also.
dollar completing a ver nice inverted Head and shoulders pattern looking to buy the dollar and sell gold