2 Year old Broadening Wedge broke to the Downside
Hi there.
Gold currently broke out of its Broadening Wedge.(see Picture below)
Acoording to this we are heading way lower then we are now. Thats why im coming up with a Short Idea with entry at the previous Wedge Support, which should now turn into Resistance.
In case it doesnt turn out to be a resistance i use pretty close stop loss for minimal loss. Atleast thats my personal preference.
This could go as low as 900 USD.
But atleast 1600.
DYOR!
Gold currently broke out of its Broadening Wedge.(see Picture below)
Acoording to this we are heading way lower then we are now. Thats why im coming up with a Short Idea with entry at the previous Wedge Support, which should now turn into Resistance.
In case it doesnt turn out to be a resistance i use pretty close stop loss for minimal loss. Atleast thats my personal preference.
This could go as low as 900 USD.
But atleast 1600.
DYOR!
Comment:
Le broadening Wedge: