Gold Forms Inverse Head and Shoulders – Rally Ahead?

Hello traders! Here’s my technical outlook based on the current XAUUSD (3H) chart structure. XAUUSD previously traded inside a broad descending channel after breaking down from a consolidation range. Following several bearish impulses, price continued to respect the channel resistance and remained under strong selling pressure. Currently, XAUUSD is trading above the 4,270 Buyer Zone while remaining below the 4,420 Seller Zone. After forming an inverse Head and Shoulders pattern near support, price broke above the neckline and started a recovery phase. Recent pullbacks have held above the Buyer Zone, confirming that buyers are defending key support. As long as XAUUSD remains above the 4,270 Buyer Zone and continues to hold the inverse Head and Shoulders breakout structure, the bullish scenario remains valid. A bounce from current levels could push price toward the 4,420 Seller Zone (TP1). Please share this idea with your friends and click “Boost” 🚀

İşlem aktif

At the moment, as I expected, a correction and retest of support is taking place. The market reaction will show whether gold will continue its recovery!

İşlem elle kapatılmış

Unfortunately, no matter how clear the pattern is, the market is still strongly influenced by news. Therefore, at the moment the price has broken through the support we have determined, which cancels our scenario!

LegionQ8

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.

LegionQ8

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