Yet I'm long Gold long term, but, you know positioning is what helps you to avoid low R/R ratios. We are way too far from what a breakout should be. I'll sit tight.
You don't know where it is going but you can track the way it came where it is now. If you are short Gold, well, I guess you are probably new here.
Just after coiling up, very bullish. You can wait for retest, I will indeed, but, hey!.. this thing could never get back down.
Bounced off sym triangle upper border. Target=180
As you can see on this chart, a gigantic rising wedge it is completing as long as price is moving towards its target.
Good luck with this parabola, what goes up must get back down. Hysterical movements are not organic, you wont be advised, ultimately there will be an 80% circa retracement move.
How to draw them. Boundaries in daily chart's patterns are confined within closings and openings price levels.
To all the economists out there, this one looks so bearish, isn't it?
Ppl taking profit. I did already. Wait for support to buy back. I will. Easy money folks.
This level of support is crucial. If it crosses it, I will eat my dick on public television.