Gold rising wedge pattern before CPI
Updated
The rising (ascending) wedge pattern is a bearish chart pattern that signals an imminent breakout to the downside.
It's the opposite of the falling (descending) wedge pattern (bullish), as these two constitute a popular wedge pattern.
A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets.
This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.
When it is accompanied by declining volume, it can signal a trend reversal and a continuation of the bear market
upside target if it fakeout 1765
downside target 1650
It's the opposite of the falling (descending) wedge pattern (bullish), as these two constitute a popular wedge pattern.
A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets.
This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.
When it is accompanied by declining volume, it can signal a trend reversal and a continuation of the bear market
upside target if it fakeout 1765
downside target 1650
Note
Note
taking profit and leaving 20% part of the trade open if 1676 breaks post fomc
Trade closed manually
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