GOLD Breakdown this rising wedge pattern, what's next?
Updated
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#GOLD
Gold is trading inside the rising Channel pattern and also forming this rising wage pattern at the top of this channel. Currently, we can see a breakdown of this rising wedge pattern so we are expecting a drop towards the 1730-level support.
what is rising wedge pattern
A rising wedge is often considered a bearish chart pattern that points to a reversal after a bull trend. A rising wedge is believed to signal an imminent breakout to the downside. Like other wedges, the pattern begins wide towards the bottom and contracts as the price moves higher and the trading range narrows.
Stay tuned I will keep updating BTC in every timeframe below the chat.
So read the full chart carefully
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#GOLD
Gold is trading inside the rising Channel pattern and also forming this rising wage pattern at the top of this channel. Currently, we can see a breakdown of this rising wedge pattern so we are expecting a drop towards the 1730-level support.
what is rising wedge pattern
A rising wedge is often considered a bearish chart pattern that points to a reversal after a bull trend. A rising wedge is believed to signal an imminent breakout to the downside. Like other wedges, the pattern begins wide towards the bottom and contracts as the price moves higher and the trading range narrows.
Stay tuned I will keep updating BTC in every timeframe below the chat.
So read the full chart carefully
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
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