Naekano

Naekano

Price recently broke the 1h or 4h trendline and currently in the 5M TF as shown in the yellow circle it is forming a falling wedge indicating a small bullish movement to retest the trendline and resistance at 1963-1966 before dropping back down. Bear in mind that 1940 level has a 4h support and might hold the price strongly after the retest.

Naekano

Gold is Rising up forming a rising wedge . Expecting 3 touches of the upper trendline and the 3rd touch should hit the resistance at 1961 and forms a 1 2 3 Engulfing bearish candle right at the resistance on the 5m or 15m TF. This confirms the entry for a pre-breakout sell for the wedge.