GC1! – The Wedge Strikes Back

Jul 30

GC1! – The Wedge Strikes Back 🚀
Gold futures (GC1!) just gave us a textbook rollover move. As the front-month rolled, price faked a wedge breakdown, only to rip back inside the structure once rollover completed. That failed breakout speaks volumes – and now the wedge is back in control.

Rollover Trap → Back Inside the Wedge
Rollover volatility flushed price below the wedge, pulling in shorts… but the move didn’t stick. Buyers stepped up and snapped price back inside, turning the wedge’s lower boundary into rock-solid support once again.

The Long Game 🎯
With GC1! holding the wedge:

• Longs off wedge support are the play
  
• Resistance: 3,380
  
• Target: 3,446 (upper wedge boundary)
  
• Stop-loss: 3,336 (below support)
  
• Risk/Reward: 🔥 10.69 RRR
  

Volume Profile also shows heavy accumulation in the 3,336–3,380 zone – crack through 3,380, and we could see momentum accelerate quickly.

Bottom Line
This isn’t just another bounce – it’s a failed breakdown on rollover. Wedge traders are back in the driver’s seat, and the setup offers a crystal-clear invalidation point with serious upside potential.

Jul 30

Trade active

This is active. I don't think it's coming back for the entry I posted this with at 3343. Good luck.

Jul 30

Trade closed: stop reached

I'm looking for another entry after the gap closes.