XAUUSD Looking to form Head & Shoulders

٨ فبراير ٢٠٢٢

As seen in the daily TF, a neckline is already formed. My guess is that it is forming a HnS to finally reach the TP area of the bullish pennant and then break the 1900 levels. We are nearing the end of the pennant so let's stay tuned folks; however, it is also important to note that there is still confluence in the structure yet there is still a possibility of a false breakout. Anything can go now.

Disclaimer: This is for educational purposes only.