XAU/USD Descending wedge
Updated
If upper grey trend line breaks cleanly we should see a strong jump up into at-least the mid 1800's/1900 encouraging long entries , However please pay close attention to any rejection that forms as if we reject that same grey line we may retest the lower white line meaning 1700 is very likely along with the very strong support of 1687. I myself scalp therefore it does not matter personally which direction it goes in however still helps to know which general direction the wind is blowing. For short/medium term traders this chart analysis may be a-lot more useful.
As we all know, nothing is guaranteed in trading so this is just some food for thought, be sure to always do your own research!
Because i trade entries on a 30m time frame it wouldn't make such sense to upload to TV as the set up would have more than likely passed however for free mentoring please don't hesitate to drop me a comment for my TG.
As we all know, nothing is guaranteed in trading so this is just some food for thought, be sure to always do your own research!
Because i trade entries on a 30m time frame it wouldn't make such sense to upload to TV as the set up would have more than likely passed however for free mentoring please don't hesitate to drop me a comment for my TG.
Note
As you can see it made the jump to 1834 but came back down to keep flirting with the trend line, see next idea for an up to date daily view. Please note i am a scalper so these ideas are just to get a gist of which way the wind is blowing not for pin point medium term trades. Keep that in mind if and when following any ideas i post.
Trade safe.
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