💥 $GOLD SPOT ALERT: Head & Shoulders Triggering a Reversal? 💥
Pair: $XAU/USD
📌 Introduction:
Gold’s glitter dims as a textbook Head & Shoulders pattern flashes on the chart. Price action is flirting with key resistance zones, and the neckline breach could open the gates for a bearish ride. Volume’s cooling off, and momentum indicators hint at a potential fade.
🎯 Trade Setup:
- Entry Price: 3755.630
- TP1: 3742.000
- TP2: 3728.500
- TP3: 3705.000
- SL: 3775.250 (above right shoulder resistance)
🔍 Outlook:
If the neckline holds and sellers step in, we could see a cascade toward lower fib levels. Watch for volume confirmation and rejection candles near TP1. A clean break below 3740 could accelerate the move. Bulls need a strong reclaim above 3775 to invalidate the setup.
#Hashtags:
#XAUUSD #HeadAndShoulders #PriceAction #CryptoKhaliq #MarketPullback