XAUUSD M15: A downward reversal pattern has been formed
The XAUUSD chart is starting to show signs of weakness in the upward movement.
A Head and Shoulders pattern has been formed. As part of the development of this reversal pattern, a downward trend is expected to develop.
At the same time, the price may test the neckline again after some time.
As far as XAUUSD is concerned, it is recommended to focus on short positions. Entry can be executed both at the current prices and upon a possible return to the resistance line.
📌 Entry: 4106.92
✔️ First target: 4056.84
✔️ Second target: 4042.17
❌ Stop order: 4154.62
