edwnjos99

Wedge formation, potential scalp trades.

FX:XAUUSD   Gold Spot / U.S. Dollar
We can see a wedge formation in the chart, I'm not sure which way its going to be breakout but there is an opportunity to make a couple of scalp trades. When it comes to the fundamentals, I'm very bullish on Gold but the fed rate cuts will artificially prop up the market and while that is not necessarily bearish for gold , it will delay the upcoming big bull run in the short run.
Jul 12
Comment: Still early but looking pretty good so far.
Jul 14
Comment: Just found an ascending triangle formation on the daily, the target is higher than 1460 and we shouldn't see it go below 1400 anytime soon. Will post a chart on this soon.
Jul 17
Comment: no ascending triangle, i was smoking too hopium.
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