Gold Xau/usd H&S Pattern H1/H4

Gold has formed a H&S pattern at a Daily resistance level. On the higher time frame such as the weekly, this area is at the 50 - 61.8 retrace region on the fib. The price has made a significant bearish push below the most recent HL which coincides with the neckline of the H&S (head and shoulders pattern) there is also a retest of that neckline which coincides with the 61.8 retracement zone on the fib. A bearish engulfing/dark cloud cover candle is a good signal for a short from this area. Be patient for the right signal.