An inverse head and shoulders pattern has formed on the 15-minute chart of XAUUSD. The left shoulder, head, and right shoulder are clearly marked, and a breakout above the neckline has occurred with strong bullish momentum.
Price has retested the breakout zone and is showing signs of support above the neckline and trendline. Volume also confirms the move, with increased buying pressure during the breakout.
This setup indicates a potential bullish continuation. The trade idea includes a favorable risk-to-reward ratio, with the target zone near 3390 and stop-loss placed just below the neckline support around 3330.
Technical Highlights:
Pattern: Inverse Head and Shoulders
Neckline Breakout Confirmed
Support Levels: 3303, 3330
Resistance/Target Zone: 3390+
Volume Confirmation: Present
This is a technical analysis idea and not financial advice. Always manage your risk.
Price has retested the breakout zone and is showing signs of support above the neckline and trendline. Volume also confirms the move, with increased buying pressure during the breakout.
This setup indicates a potential bullish continuation. The trade idea includes a favorable risk-to-reward ratio, with the target zone near 3390 and stop-loss placed just below the neckline support around 3330.
Technical Highlights:
Pattern: Inverse Head and Shoulders
Neckline Breakout Confirmed
Support Levels: 3303, 3330
Resistance/Target Zone: 3390+
Volume Confirmation: Present
This is a technical analysis idea and not financial advice. Always manage your risk.
Trade active
its time to trade active now Trade closed: target reached
hold for 4 hours
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.