FX.co ★ Trading idea for gold

Gold failed to move higher than $ 1800 last Friday and closed with a decline instead. As a result, a head-and-shoulders pattern was formed, where buyers are trapped at very specific levels:

To avoid losing profit, traders should take this strategy in consideration:

The target is to push the price below $ 1675. To do this, enter short positions and work for the development of an ABC pattern.

Follow the Price Action and Stop Hunting methods.

Good luck!