trading plan for gold: rising wedge + structure
Updated
hey traders,
on gold we see how the market is coiling in a rising wedge pattern,
with each bullish leg shorter than the previous.
wedge pattern is a perfect indication of a weakening momentum,
it is typically broken around significant support or resistance area.
our plan for today:
let the market continue its movement in a wedge pattern,
and wait for a bearish breakout as it enters a resistance zone.
targets will be based on structure.
good luck!
Note
the market following the wedge borders!Note
the market in the zonewe see a rejection !
Note
Bearish violationTrade active
Note
Hit target 1
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