SELL Opportunity for XAUUSD: Head and Shoulders Pattern Still Visible! ~ 90% Rebate Exness Everyday

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SELL Opportunity for XAUUSD: Head and Shoulders Pattern Still Visible!

XAUUSD Analysis

Profit-Taking Drives Price Correction

Although Gold remains in an overall uptrend after recently hitting an all-time high, a correction has occurred as market participants engage in profit-taking. The Russia-Ukraine peace prospects remain a key issue being closely monitored.

Head and Shoulders Pattern Still Visible

The Head and Shoulders pattern is still apparent on the H1 timeframe. A sell opportunity can be considered around the neckline area.

Market Outlook: WEAK XAUUSD

Trade Plan:

SELL AREA: 2930.64 – 2921.78
STOP LOSS: 2957.24
TAKE PROFIT TARGETS:
- TP1: 2897.75
- TP2: 2867.59
- TP3: 2838.01

Use proper risk management and monitor price action closely. Stay alert for potential fake breakouts around key levels.

Good luck with your trades! 🚀