Description as in title. Wait for breakdown and retest of the neckline to take a position.
Disclaimer : Not a financial advice. I have a short position already since yesterday.
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The gold has triggered the Head and Shoulders pattern today. Watch out for tomorrow. If the Neckline of the HS pattern is retested and it holds , good place to initiate shorts
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The Head and shoulders failed on backline retest, invalidating the setup in this idea. Always wait for retest to neckline to validate the Head and shoulders pattern