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telephoton

Wedge angle halved, combined with upper trend line horiz @ 1200

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
telephoton  
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Gann
3
2
trendanalysis chartpattern gann
The wedge that we broke beneath a day ago was angled up at about 34.5 degrees. The new wedge that has formed is at an angle of 15 degrees, with a trend line forming the upper edge being horizontal at 1205 (previous strong support/resistance level). If we break below this lesser-angled wedge and continue below 1200, it may go quite a bit lower.
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