XAUUSD: Short Breakout from Rising Wedge. Target 1223

FX:XAUUSD   Gold Spot / U.S. Dollar
207 2 9
Classic rising wedge . 90% of wedge breaks downside.
Yesterdays speech with expected popup is down to gutters.
I expect a slow fall towards 1223 which is crucial support at 0.5 fib.
Whereas upside is limited to 1248 - 1250.
This provides best Risk-Reward ratio.

Note: I am long from 1205 as well
Trade active: Scalp Short 1244
Expected 1223
Trade closed manually: Touched 1234.5
Closed Short at 1236.55
Comment: Looking for another Short entry if test of 45 fails.
clear break 45 leads to near term resistance 48-51 zone and then towards channel top 1260
Comment: With this Momentum. Breaking the wedge upside may enters the bullish zone. Next takeout will be 1251-52 Resistance Zone
Comment: We have breakout
let see if it clears 1248.5 resistance
Comment: oops hazy chart
Comment: Clears first resistance 1248.72.
Next 1252.29
Comment: Wont be updating this anymore. Pls look at this chart Ideas for broader TF. Thanks
i thought u were bullish/long?
+1 Reply
robus Loii
Indeed. Short scalp. I forgot to update this chart.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out