Head and shoulders pattern appears and will be a strong crash

29 May

🔔🔔🔔 Gold news:

➡️ Demand for the U.S. dollar (USD) remains strong this week, driven most recently by the cautious tone of the Federal Reserve’s May policy meeting minutes and a U.S. federal court ruling blocking former President Donald Trump’s “Liberation Day” tariffs.

➡️ The court considered such tariffs illegal, stating that Trump relied on the authority to impose sweeping duties on imports from countries that sell more to the U.S. than they bought

➡️ Meanwhile, the Fed minutes noted that “participants agreed that uncertainty about the economic outlook had increased further, warranting a cautious approach until the net economic effects of numerous changes in government policy become clearer.”

Personal opinion:
➡️ The upward momentum in USD price has not stopped yet, Variations of the head and shoulders model have formed and gold prices will be affected by a decrease in the near future.

➡️ Analyze based on support resistance levels and price action to come up with suitable strategies

Personal Plan:
🔆Price Zone Setup:

👉Buy Gold 3233 - 3236
❌SL: 3229 | ✅TP: 3240 - 3245 – 3250

👉Sell Gold 3287 - 3290
❌SL: 3294 | ✅TP: 3283 - 3278 – 3270

FM wishes you a successful trading day 💰💰💰

30 May

İşlem aktif

personal plan
hit +130 pips from sell 3279
setup successful