XAUUSD Falling Wedge
Falling Wedge Pattern -- The recent price movement in GOLD has formed a falling wedge pattern. Falling wedges are often considered as bullish reversal patterns
Divergence: Alongside the falling wedge pattern, there is a divergence between price and a momentum indicator
To establish a potential entry point, a Buy Stop order is recommended to be placed above the last lower high within the falling wedge pattern. This approach waits for a confirmed breakout above the resistance level, which could trigger a bullish reversal.
Projection of falling wedge is marked
Divergence: Alongside the falling wedge pattern, there is a divergence between price and a momentum indicator
To establish a potential entry point, a Buy Stop order is recommended to be placed above the last lower high within the falling wedge pattern. This approach waits for a confirmed breakout above the resistance level, which could trigger a bullish reversal.
Projection of falling wedge is marked
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