XAUUSD... 4h review

Hi everyone

To see how the price has been supported by the dynamic trend line (orange)

here I shared 12H chart. so as you can see this is a very important trend line

and price bounced upward from this line after hitting several times .

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now on 4H chart if you look, the price is forming a bullish H&S.

So... for that purpose we need to see price drop to shape our right shoulder

and visit the support trend line one more time.

if and only if this scenario validate we can expect an upward pressure.

the long position only validate by the time the neck line of H&S break upward.

other support and resistant levels are on the chart.


Enjoy the market

Trade active:

neck line of H&S is our key
price close above the neck line has chance for upward pressure to our targets.

Trade active:

exactly moved as expected.

Trade active:

retesting the neckline is logic but
if the price closed below our neckline should be cautious more.