GOLD (XAUUSD) Preparing to Short. Full Trading Plan:

hey traders,

as it has been discussed earlier, gold has reached a strong resistance area.
we see a perfect match between a horizontal daily structure and a major falling trend line.

identified daily resistance cluster matches with a resistance line of a rising parallel channel on 4H.

on hourly time frame, the price is forming a head and shoulders pattern.
1915.5 is its neckline.
I want to see 1H candle close below that to initiate short.

goals:
1906.9
1901.0

in case of a new higher high higher close above the head level on hourly, setup will be invalid.

Order cancelled:

head level violation

Comment:

Check my new analysis on GBPUSD!

04:06