UnknownUnicorn772665

GOLD Short Trade - *CONSOLIDATION & WEDGE PATTERN*

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold has been consolidating in a multitude of wedge patterns on the 1hr/4hr timeframes after the big drop in early march.

This is a bearish continuation set up for me as price is using before it will continue downward. This is a risky entry at the top of the 1hr wedge with a nice wick rejection candle.

Stop loss is places above previous 1hr highs.

Targeting the bottom of the wedge for profit taking.
Trade active
Comment: Bearish momentum now in play... Daily timeframe also looking good
Trade closed manually: Stopped at breakeven.