XAUUSD had been moving in a strong uptrend, with buyers clearly in control. Each push higher carried solid momentum, but near the top, that strength began to fade.
The first pullback formed the left shoulder and gave the earliest sign of hesitation. Buyers then tried to regain control, driving price to a new high and forming the head, but the move failed to continue. That lack of follow-through was an important warning.
When price pulled back again and recovered into a lower high, the right shoulder was formed. This time, sellers responded with more conviction, showing that the balance was beginning to shift.
The break below the neckline is what confirms the pattern. If price now retests that level and gets rejected, it could offer a strong bearish continuation setup, with 4,075 as the next downside target.
The first pullback formed the left shoulder and gave the earliest sign of hesitation. Buyers then tried to regain control, driving price to a new high and forming the head, but the move failed to continue. That lack of follow-through was an important warning.
When price pulled back again and recovered into a lower high, the right shoulder was formed. This time, sellers responded with more conviction, showing that the balance was beginning to shift.
The break below the neckline is what confirms the pattern. If price now retests that level and gets rejected, it could offer a strong bearish continuation setup, with 4,075 as the next downside target.
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🔥 TRADE SMARTER. MOVE FASTER.
👉 t.me/+E4ZNW3ZeXiQ1Y2M9
🎯 Clear signals, precise entries & smart setups
📊 Free trading plans + market strategies
⚡ Real-time insights to catch every opportunity
👉 t.me/+E4ZNW3ZeXiQ1Y2M9
🎯 Clear signals, precise entries & smart setups
📊 Free trading plans + market strategies
⚡ Real-time insights to catch every opportunity
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.