Chart Analyzed - 4H and D
Pattern Observed - Falling Wedge
Confirmations Needed to Enter:
(1) Regular Bullish Divergence observed on the 4H chart
(2) Price is near a key support area
(3) Waiting for trendline break and/or 9 and 14 day EMA cross
Stop Loss at 1.04700
Expected Entry at 1.05250
Take Profit at 1.07250
Update from my previous analysis of XAUUSD on September 20, 2020:
We now have a completed bullish pennant on the Daily chart with a break and close above the trendline.
Entry placed at 1945.00
