(XAUUSD 12H) Gold forming a very interesting WEDGE

(XAUUSD) Formed a new high in August 2020, since then price has been falling looking for support to continue up.

We could be forming a head and shoulders on a higher TF such as DAILY and 12 Hour chart.

KEY LEVEL:

LOCAL SUPPORT - $1686.00

CURRENT RESISTANCE - $1828.00

MORE RESISTANCE -$1910.00

ALL TIME HIGH - $2074

TARGET 1: $1750

TARGET 2: $1720

TARGET 3: $1686

Ideally looking for a bounce around $1686.00 , filling the imbalance created on August 9th which is our local support

Head and shoulders INVALID if we break above $1828 on higher TF

HAPPY TRRADING