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MarcusBlac
Apr 13, 2020 3:57 AM

Gold XAUUSD - Rising Wedge Short

GOLD / U.S. DOLLARICE

Description

The rising wedge is clearly evident but expecting a contrary to the expected normally bearish immediate breakdown from rising wedges, expecting a false breakout to the upside above the rising wedge to the 1707-1740 levels possibly prior to dropping significantly towards 1585. The current wave up is a wave 5 in a 3 wave intermediate sub sequence, after the short term rally we should have a larger 3 wave asymmetric decline almost a 100 dollar move down at least the 1585 levels.

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Comments
MarcusBlac
Prices surged overnight as expected approaching a near term top imo around 1722-1740
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