XAUUSD
Updated
Initially caught the W upside break from our descending channel. The pattern W that formed was a further confirmation that I as going to break to the upside from the descending channel once it broke the green trend line I have in place for our descending channel.. Even then XAUUSD didnt really give the push I was expecting even after good news. After this small push it turned into an rising wedge, if you look at my previous post you can see my prediction and see that after it broke our red trendline it was a perfect opportunity for downside which it in fact was. Now we are at a bounce once again from our green trend line that was previously from our descending channel.
I do believe if this line is broken it could be further continuation to the downside or it can be a nice bounce.
I do believe if this line is broken it could be further continuation to the downside or it can be a nice bounce.
Trade closed: target reached
after break of green trendline we used to the downside. Perfect 60 point move If you caught it from the initial break of the rising wedge!
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