xauusd ---> is this a reversal pattern?!

7 cze 2023

hello guys...

in the daily time frame, gold formed an ascending channel as you can see:



the bottom line of the channel is forming a double head and shoulders, it is clear in that chart!

because this pattern happens in the bottom of the channel so it is more possible that the pattern become a reversal one, but I recommend you wait until the neckline breaks up the get a long position!

but if the head breaks down it means the parallel channel breaks down either, so the trend of gold changes to bearish in a daily time frame!

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