botje11

Gold making a wedge, could see a small rally soon

Long
botje11 Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
Gold has made a big drop this week. As you can see in the bigger wedge around the highs, it just dropped of out of it instead of going higher. Because that's a very weak sign we saw that acceleration down. It did the same a month ago. Now it has made another wedge, smaller one which suggests we could see a correction up after this big drop.
A small false break out below is still possible!

The first green area should be the first target, i will close half here. The second target could also be possible, here i will close the other half.
Comment:
I got the first half in 1322, will buy the other half at the lower green line or when we get above the 1324
Comment:
Other half is in too, stop around 1318 and 1315


Comment:
Comment:
Targets already reached, I have closed half at 1333, i am letting the rest run with a stop at 1328
Trade closed: target reached:
Closed the remaining at 1342 :). Was a very easy trade this one. 11 points on the first half an 20 point on the other

Want to support me? My affiliates:

partner.bybit.com/b/botje12

onelink.to/quantfury
Add invite code AFTER signing up, bonus up to $250: 4JU345F3
1 trade, 30 day wait, to claim bonus

www.kucoin.com/r/af/rMQN2A5
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.