CoreyM
Long

Nice Bullish continuation in Gold

FX_IDC:XAUUSD   GOLD / US DOLLAR
65 1 1
4 months ago
It looks like Gold             is ready for an upthrust in its consolidation channel. Falling Wedges (in red) typically occur when the faster moving resistance line catches up to the slower moving support line and it causes a big blowout to the upside usually, which we see on the chart. I like to confirm this pattern with the inverse head and shoulders that is also apparent in the last 3 dips inside the falling wedge. ANNNND that we are hitting the bottom side of this beautiful blue channel.. it looks like its pretty safe to go long. so go long 1335-1340, stop at 1320             and targeting 1360++ (green line) GL
4 months ago
Trade active: Got my position at 1333. A little bit premature on the daily action but for the weekly still looking solid!
4 months ago
Comment: Goes to show the most beautiful charts sometimes don't equal profit. Position was closed out at $1328 after failing it's main uptrend line
4 months ago
Trade closed manually: trade closed 1328
CoreyM
4 months ago
Gold still here at 1330.1.... we should be ready to break out (hopefully up) by NYC Open.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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 Billing Sign Out