XAUUSD Rising Wedge inside Channel Up
Fierce battle on the XAUUSD market with Gold trading on a Rising Wedge short-term inside a Channel Up long-term. The price is firmly supported by the 4hour MA50 for exactly 30 days and this indicates a strong uptrend.
You can scalp the Rising Wedge's range and add to your intra day profit. If broken upwards, the minimum rally this Channel Up has achieved on a bullish leg is +2.75% and that puts the upside target at 1793. Equally on the downside, if the 4hour MA50 gets crossed, the minimum fall we can get is the bottom of the Channel Up, where the 4hour MA100 is waiting.
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You can scalp the Rising Wedge's range and add to your intra day profit. If broken upwards, the minimum rally this Channel Up has achieved on a bullish leg is +2.75% and that puts the upside target at 1793. Equally on the downside, if the 4hour MA50 gets crossed, the minimum fall we can get is the bottom of the Channel Up, where the 4hour MA100 is waiting.
Follow us, like the idea and leave a comment below!!
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