fxtrader66

Gold, in a huge wedge?

FX:XAUUSD   Gold / U.S. Dollar
372 4 2
Weekly chart gold             . Price has made an outside bar, which could be viewed as lower prices to come if there is continuation on the daily chart next week.

It looks like gold             is making a huge wedge and would prefer to buy gold             on signs of support at the bottom TL of wedge .

Alt - breakout of either side of wedge could produce a measured move of $250 from breakout point.
sorry,I am new,I do not know the chart language,what does it means ?
Reply
fxtrader66 bodrum.fatihi.7
http://thepatternsite.com/OutsideDays.html

http://thepatternsite.com/chartpatterns.html
Reply
it is also similar to the last bar of july. It is a probability but not a measure of decision I guess.
Reply
fxtrader66 Teknik_Oyuncu
Last bar of July technically was not an outside bar, since it didn't have a hh than the previous candle. The only question that could invalidate this pattern is the open is .72. cents lower than the close of previous candle, however, being so close, continuation on the daily chart would confirm if this pattern is valid. Tnx for the comment!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out