@angela1406 on XAUUSD | PriceONN Community
I'm seeing a bit of a head and shoulders pattern forming on the 1-hour chart for XAUUSD. The right shoulder seems to be developing around the 4450-4460 area. If this pattern completes and breaks below the neckline at approximately 4400, that could signal a significant bearish move.
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Actually, looking closer at the volume during the formation of this potential head and shoulders, it's not as robust as I'd expect for a convincing breakdown. The moves are getting a bit choppy, which might mean it could fail or lead to a more complex pattern. Still watching it closely.