Gold has broken the $1800 level and is now trading just above it.
This rising wedge occurred after a preceding downtrend which is going to act as a continuation of the preceding downtrend.
I would boldly state that the recent gains XAUUSD has been experiencing is a pullback to resume/continue the original downtrend.
If the high impact USD news (JOLTS JOB OPENINGS) being released is positive better than expected/positive, then my idea will be proved valid but until then, open sell limits with good risk & money management.
If you like this idea, leave a like, share your thoughts in the comment section and most of all, hording knowledge is bad, so share this idea with your fellow traders !.
This rising wedge occurred after a preceding downtrend which is going to act as a continuation of the preceding downtrend.
I would boldly state that the recent gains XAUUSD has been experiencing is a pullback to resume/continue the original downtrend.
If the high impact USD news (JOLTS JOB OPENINGS) being released is positive better than expected/positive, then my idea will be proved valid but until then, open sell limits with good risk & money management.
If you like this idea, leave a like, share your thoughts in the comment section and most of all, hording knowledge is bad, so share this idea with your fellow traders !.
Comment:
If i've come to learn anything from trading Gold especially, is that history tend to always repeat itself !.
