@capitalmanagementservice: This is my analysis on XAUUSD on the 10 minute timeframe To begin with we can see how price is forming higher highs followed by higher lows visually represented by the ascending trendline. We are starting to see an influx of sellers entering the market which has began to break structure This strong bearish impulse move however is not enough confirmation for me to begin looking for a sell position. Looking at chart patterns I am anticipating a head and shoulder pattern to form which is a bearish reversal pattern. The confirmation I will look for is a break and retest of the neckline of the head and shoulders pattern. As this will confirm a shift in market structure with lower lows and lower highs forming As always it’s important to sit on our hands and allow price to come to us. We must be reactive to the market and not proactive Want to know which services I offer? Check out the link in my bio! ~ NB ~ This is not a trading signal or financial advice. Trading carries risk. . . . . . . . . . #technicalanalysis #passiveincometips #forexaccountmanagement #forextradingstrategy
