Gold wedge breakout [Just an idea]
Updated
Hi traders,
On this XAUUSD chart we can see a wedge forming. What I would do in this situation is wait for a candle to close outside the wedge. What usually happens is a small retracement and then the move continues.
Bullish target would be around 1375 and 1320 for a bearish target.
Let's see what happens. Updates will follow.
On this XAUUSD chart we can see a wedge forming. What I would do in this situation is wait for a candle to close outside the wedge. What usually happens is a small retracement and then the move continues.
Bullish target would be around 1375 and 1320 for a bearish target.
Let's see what happens. Updates will follow.
Note
Very likely to see some bearish movement from here.Note
Going great so far. There are two AB=CD patterns completing soon. Price might go up from there [around 1320]. Check the comments below for more information.Note
Price rejected off the completed AB=CD pattern. I'm expecting to see upwards movement to the 1334 area.
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