Gold time for H&S correction after massive rally?

Gold has pumped a lot past weeks, where it only made 1 decent correction 2 weeks ago. Now many times H&S patterns fail after a huge rally, but this H&S is quite small compared to the rally, so i think it has a decent chance to become real. I do however think it's important to see a break of the neckline AND a retest of former support. Now with H&S patterns i sometimes get in much sooner with a partial position, but i think in this case it's a bit too risky because Gold is a big and popular asset nowadays. With crypto we usually don't get a break and retest, but with traditional markets we do, so i don't see the need to get ahead of things. As long as price moves below that red line, the H&S is in play.


Previous analysis:

Kommentera:

New Gold analysis: