davidvid96

GOLD Wait for bullish confirmation

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hi Guys , What do you think about my analysis on Gold right here ,

I'm looking at the 2h timeframe here , overall the chart still in the bearish market structure ,
but price has rejected to the Support area and bounce back to the upside ,
when price was making the bearish move to the downside , price created a falling wedge pattern ,
and as you can see , we saw a breakout of the pattern and created an equal high of the market ,
price also failed to break the down trendline as you can see that's why it rejected back down ,
so im expecting the market will correct after the impulsive move and a continuation to the upside ,
now im waiting for more bullish confirmation to enter the long trade ,
this is just what i think it will be ,
trade with care , dont forget to put your stoploss and take profit target

Let me know what do you think about my analysis ,
Give it a like or comment if you like this idea !

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