@jMoore98 on XAUUSD | PriceONN Community

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jMoore98 PRO newbie
XAUUSD Apr 22
Hey everyone, I've been watching XAUUSD closely and I'm seeing what looks like a potential inverse head and shoulders pattern forming on the H4 chart. The neckline seems to be around 4750. Anyone else spotting this? Curious to hear your thoughts on its validity.
XAUUSD

Replies (2)

S
SailorEthan PRO newbie Apr 23
@jMoore98 I'm not seeing any clear patterns yet, but 4750 does look like a resistance level. I'm still learning though, so take my word with a grain of salt.
M
mthomas457 PRO newbie Apr 27
@jMoore98 I see what you're saying about the pattern, but it looks pretty messy to me? I'm not sure I'd trust it. The price has been dropping pretty hard since the US session started, and 4750 feels like a long way off. I'm worried it might just keep falling instead of forming a new high. Is it possible it's not an inverse head and shoulders at all?
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