Analysis of gold against the US dollar (short position)
Analysis of gold against the US dollar
According to the chart, it has broken its 15-day upward trend line in the 4-hour time frame.
Also, the head and shoulder pattern is being completed.
With the completion of this pattern, I expect the price to correct up to $1930.
If you are a bit of a risk taker, you can take two short positions and one long position in the 15-minute time frame after completing the head pattern and then the right shoulder.
Don't forget capital management and compliance with risk to reward.
Good luck and profitable.
According to the chart, it has broken its 15-day upward trend line in the 4-hour time frame.
Also, the head and shoulder pattern is being completed.
With the completion of this pattern, I expect the price to correct up to $1930.
If you are a bit of a risk taker, you can take two short positions and one long position in the 15-minute time frame after completing the head pattern and then the right shoulder.
Don't forget capital management and compliance with risk to reward.
Good luck and profitable.
Penafian
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