Gold is Putting a Rising Megaphone Top (Red) on the Chart for a Fake Breakout from its Inverse H&S
Gold is putting a rising megaphone top (red) on the chart for a fake breakout from its inverse H&S.
Assuming the rising megaphone completes with a new high, it will need to retrace to the level of the lowest touch on the formation bottom before it can put in a legal breakout from the inverse H&S, and gold could still put in a lower low to complete some other kind of bottoming pattern.