XAUUSD: Short Breakout from Rising Wedge. Target 1223
Updated
Classic rising wedge. 90% of wedge breaks downside.
Yesterdays speech with expected popup is down to gutters.
I expect a slow fall towards 1223 which is crucial support at 0.5 fib.
Whereas upside is limited to 1248 - 1250.
This provides best Risk-Reward ratio.
Note: I am long from 1205 as well
Yesterdays speech with expected popup is down to gutters.
I expect a slow fall towards 1223 which is crucial support at 0.5 fib.
Whereas upside is limited to 1248 - 1250.
This provides best Risk-Reward ratio.
Note: I am long from 1205 as well
Trade active
Scalp Short 1244Expected 1223
Trade closed manually
Touched 1234.5Closed Short at 1236.55
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Looking for another Short entry if test of 45 fails.clear break 45 leads to near term resistance 48-51 zone and then towards channel top 1260
s3.amazonaws.com/tradingview/snapshots/l/L7z4FW90.png
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With this Momentum. Breaking the wedge upside may enters the bullish zone. Next takeout will be 1251-52 Resistance Zones3.amazonaws.com/tradingview/snapshots/v/vu5Lg3FK.png
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We have breakoutlet see if it clears 1248.5 resistance
s3.amazonaws.com/tradingview/snapshots/l/lzyQJk4i_thumb.png
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oops hazy charts3.amazonaws.com/tradingview/snapshots/t/tzkLPe7S.png
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Clears first resistance 1248.72.Next 1252.29
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Wont be updating this anymore. Pls look at this chart Ideas for broader TF. Thanks
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