It has been observed that an inverse Head & Shoulder pattern has emerged on the Spot Gold hourly chart with a retrace back to the neckline which has held well.
Long Entry : 1219.63
Target : 1258
Stop : 1198.92
A little late in posting this one, but nevertheless, a Bullish Cypher Pattern has emerged on the XAUUSD 1 hour chart.
A long can be initiated if the price retraces back to 1185.73 or can be longed at current market price if your R:R Allows for it.