JUST MESSING AROUND WITH IDEAS.. POSTING THIS JUST NCASE IT HAPPENS
Comment:
I see the market in wedges in and here gold is in the after math of a great sell off from 1900 levels that fall wedged price back up.
Now in a parallel channel, gold seems to be potential creating a rising wedge on its chase to 1600.
Also, notably the current angle we are in to determine if long or short is the correct trade is a clear falling wedge that many (even myself) believe is just about done forming.
There's just one thing, there another couple of rising wedges inside that that may signal more of a fall, right into a fib line (yellow box) at 1435.
This is all just speculation and bored analysis. Not really a plan that I'm trading on.
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Now in a parallel channel, gold seems to be potential creating a rising wedge on its chase to 1600.
Also, notably the current angle we are in to determine if long or short is the correct trade is a clear falling wedge that many (even myself) believe is just about done forming.
There's just one thing, there another couple of rising wedges inside that that may signal more of a fall, right into a fib line (yellow box) at 1435.
This is all just speculation and bored analysis. Not really a plan that I'm trading on.