First if all, why sharing a wedge that happened?
This is purely for educational purposes, I was following this wedge while not trading it.
I don't need the credits for spotting it or something, but I'm sharing this to look back in the future at wedges what worked out well.
About this one:
We see that this wedge was a good textbook wedge.
Why did this wedge...
Apologies for the squeezed chart, but we were trying to capture the very important upwards moving trendline, taken from the low of August 2018. This line is our short-term target. But in order to reach it, we need to see another push lower, away from the 1276 hurdle and breaking below yesterday's lows.
Please see the chart for levels and the alternative...
Looks like Gold is making a double bottom here. The right part of the pattern is dropping a bit too fast, but it could slow down. With a double bottom, we want to see the left and right side of the pattern have the same size in time. So we want to see it move to the low in that blue circle, something like the red line. Now this is no exact science, but this is how...
Gold is consolidating quite long from 28.th of June 2013 till nowdays.
On Forex, on October route 6.7 T USD loss was achieved on global equities market.
I posted on 15.th of November short on SPX (as index fell for 2723-2400). (feel free to check on my twitter).
That's 2676B loss achievend in one month time.
The time has come when all stock indexes will...