Gold just gave us a critical reaction off a key confluence zone — and bulls might finally be waking up. Here's the breakdown:
🔹 Falling Wedge Breakout: Price respected the wedge support beautifully around the 0.382-0.5 Fib retracement and has now closed above the upper descending trendline. The falling wedge is a bullish reversal pattern, and we may be witnessing the early stages of a trend shift.
🔹 EMAs Realignment Pending: Price is now testing the 20 and 50 EMAs — a clean break and close above them would likely trigger algorithmic momentum back into bullish continuation, especially if we see a flip of the 0.382 Fib at $3,324 as support.
🔹 Upside Targets:
* TP1: $3,372 (0.236 Fib)
* TP2: $3,450 (previous structure high)
* TP3: $3,539 (full range expansion)
🔹 Invalidation Below: A break back inside the wedge and below $3,285 would invalidate the bullish bias and likely open the path to deeper correction toward $3,251 or even $3,217.
📌 Key Insight: The best trades aren’t about prediction — they’re about preparation. This setup is all about reacting to price as it confirms. Let the market tell you when it’s ready to move, then strike with confidence and precision.
💡 Watching for bullish retest + volume confirmation before entering long.
🔹 Falling Wedge Breakout: Price respected the wedge support beautifully around the 0.382-0.5 Fib retracement and has now closed above the upper descending trendline. The falling wedge is a bullish reversal pattern, and we may be witnessing the early stages of a trend shift.
🔹 EMAs Realignment Pending: Price is now testing the 20 and 50 EMAs — a clean break and close above them would likely trigger algorithmic momentum back into bullish continuation, especially if we see a flip of the 0.382 Fib at $3,324 as support.
🔹 Upside Targets:
* TP1: $3,372 (0.236 Fib)
* TP2: $3,450 (previous structure high)
* TP3: $3,539 (full range expansion)
🔹 Invalidation Below: A break back inside the wedge and below $3,285 would invalidate the bullish bias and likely open the path to deeper correction toward $3,251 or even $3,217.
📌 Key Insight: The best trades aren’t about prediction — they’re about preparation. This setup is all about reacting to price as it confirms. Let the market tell you when it’s ready to move, then strike with confidence and precision.
💡 Watching for bullish retest + volume confirmation before entering long.
Trade active
TRADE ACTIVE SL 3250
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🌐 Website: linktr.ee/WrightWayInvestments?utm_source=linktree_profile_share<sid=dab8cbd2-96a1-4f0e-aaae-d84d55e644e5
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💎 FREE FOREX and CRYPTO Signals: t.me/WWInvestmentsFree
🌐 Website: linktr.ee/WrightWayInvestments?utm_source=linktree_profile_share<sid=dab8cbd2-96a1-4f0e-aaae-d84d55e644e5
🌐 Website: linktr.ee/WrightWayInvestments?utm_source=linktree_profile_share<sid=dab8cbd2-96a1-4f0e-aaae-d84d55e644e5
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.