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BobbyMcGee
Aug 3, 2016 4:32 AM

XAUUSD Long - Ascending wedge or Cup and Handle Long

Gold/U.S. DollarFXCM

Description

Cup and handle pattern completing, however an ascending wedge has given possible different exit point. Trading to Cup exit point, then monitor.

First publish! :-)

Comment

Didn't quite make it all the way up the cup and so my handle is too high. Despite it travelling along in a handle channel now, the longer term indicators are quite bearish, and so I expect with the recent jump from BoE rate cut, that this is more of a double top, and that the cup is a larger double top. Looking for Gold to fall over the coming weeks.
Comments
pmcllc
it broke out down the triangle...
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