A Golden Opportunity on Gold?

Added: 2026-05-21

[00:00:00]We've spoken a lot about head and shoulders today, and the traditional version of them. This could possibly be an inverted head and shoulders, which looks a little bit different. So, what would happen is we would start with a move down.

[00:00:17]Um, I'm trying to figure out how to draw this on with the with the thing. And then, this would be our left shoulder.

[00:00:24]This would be our left neck.

[00:00:26]This would be our head.

[00:00:28]This would be our right neck.

[00:00:30]Then, the right shoulder would be somewhere symmetrical around this area, and then we'd look for a violation to the downside and a continuation lower. So, again, in your traditional head and shoulders, you're looking for a reversal in the trend, right? So, price action comes down, it does a little dance like that, and then price reverses. In this inverted head and shoulder, you're looking for a continuation in the trend. Price comes down, it does a thing, it goes here, it does that, and then it continues down like that. And that would be something that you're looking for here. Now, I know what you're saying.

[00:01:00]Akil, you just said price is at previous structure. Perhaps I should look for longs at structure, but now you're saying that this could be this inverted head and shoulders, and that would be a reason to look for shorts. Come on, man.

[00:01:17]Which one is it? And my answer is it could be both. Now, I want you to think about this, and this is the beauty of trading. Whenever I talk about, "Hey, as traders, we're mercenaries," meaning that we can trade both sides of the market, and if we learn to be a chartist first and not just a strategy follower, we can analyze the market from different perspectives. I call it thinking like the other trader, and we can find either hidden opportunities on the side of the market that we want to be involved in, or we can find multiple opportunities on both sides of the market. So, let me ask you this question.

[00:01:50]We are about halfway done this potential inverted head and shoulders. We have the left shoulder over here. Ding. We have the head right here. Ding, we've retraced back to the right neck. Ding, what is the next thing we would need if we were going to carry on completing our potential inverted head and shoulders, right? Take a second, write it in, pause the tape, go over it in your brain. We would need a right shoulder, right? We would need a right shoulder. And what did I tell you about right shoulders, right? Usually they form at a symmetrical level. So, if this is our left shoulder over here, right, these highs, then our right shoulder should probably come somewhere in here. This would make sense as we have previous structure in the middle as well. Well, let me ask you this question.

[00:02:39]For those who are looking for longs down here, where is one place that you would probably look to take some profit off the table? Now, I'm not talking a long-term gold investor, it's a whole different thing, but as a trader, well, probably somewhere in this level because this is where structure is at.