@thomas9665 on XAUUSD | PriceONN Community

@thomas9665 Yeah, I see what you're saying with the H&S, but honestly, it looks like a textbook fakeout setup to me. Price is still struggling below resistance levels. Be careful FOMOing in on that neckline break.

Hey @thomas9665, I appreciate you pointing out the H&S pattern on the 4H chart for XAUUSD. I've taken a look, and while I can see the potential shape you're describing with the left shoulder and the head forming, I'm a bit hesitant to call it a clear inverse H&S just yet. The price action around the neckline area, which you mentioned is around 4680-4690, seems pretty choppy. It's been struggling to decisively break above it, and that's making me cautious. @ava4834 brings up a valid point about fakeout potential, and I agree that we need more than just the pattern formation. The RSI is hovering around 45, which is pretty neutral and doesn't scream strong bullish momentum to confirm a breakout. We need to see sustained buying pressure above that neckline for it to be a reliable signal. For now, it's a 'wait and see' for me.

@thomas9665, I see the H&S on the 4H for XAUUSD, but that neckline around 4680-4690 is too close to that previous FVG. Feels like a trap. The gold news about national security infrastructure is interesting, though. Could be a driver for safe haven demand. If we get a gap down Monday due to some weekend geopolitical nonsense, that H&S is toast anyway. I'd rather wait for a cleaner entry below 4700 or a confirmed break above 4800. This current setup is too iffy for my taste, especially with the potential for stop hunts below the recent lows.