H&S Pattern on Daily - Gold
I am expecting a bearish trend in the coming few days (Week of Jun 8, 2020) for the gold.
Reasons:
Candlestick chart:
(1) Head-and-Shoulder Pattern on the Daily time frame
(2) Friday's bearish candle has already break through the previous Higher Low
(3) Downtrend on the Hull's trend
Heikin-Ashi chart:
(1) 3 consecutive short-wig bearish bar have developed a good initiation pattern
(2) In the previous 2 swing-high and swing-low periods, we see an increment of volume in the swing-lows and decrement in the swing-highs
Notably that I have also spotted that on the weekly timeframe, gold is in the middle of a downward swing cycle.
PS. It would be nice to see any comment, critics and/or reviews. I am still a newbie, anything would helps me greatly!
Reasons:
Candlestick chart:
(1) Head-and-Shoulder Pattern on the Daily time frame
(2) Friday's bearish candle has already break through the previous Higher Low
(3) Downtrend on the Hull's trend
Heikin-Ashi chart:
(1) 3 consecutive short-wig bearish bar have developed a good initiation pattern
(2) In the previous 2 swing-high and swing-low periods, we see an increment of volume in the swing-lows and decrement in the swing-highs
Notably that I have also spotted that on the weekly timeframe, gold is in the middle of a downward swing cycle.
PS. It would be nice to see any comment, critics and/or reviews. I am still a newbie, anything would helps me greatly!
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