This chart shows the XAUUSD (gold) price movement with a clear rising wedge pattern. Key observations include:
1. Rising Wedge Formation:
A bearish continuation pattern suggesting potential price breakdown.
Price is consolidating within converging upward-sloping trendlines, indicating weakening momentum.
2. Breakdown Target:
A potential move downward is projected with a target near 2647.30.
This aligns with the measured move of the wedge's height.
3. Stop-Loss Level:
The invalidation level for the bearish setup appears near 2683.56, which is above the wedge structure.
4. Strategy:
Traders may consider short positions on a confirmed breakdown below the wedge, targeting 2647.30, while maintaining strict risk management with a stop above 2683.56.
This pattern highlights potential bearish momentum as long as prices fail to break above resistance levels.
1. Rising Wedge Formation:
A bearish continuation pattern suggesting potential price breakdown.
Price is consolidating within converging upward-sloping trendlines, indicating weakening momentum.
2. Breakdown Target:
A potential move downward is projected with a target near 2647.30.
This aligns with the measured move of the wedge's height.
3. Stop-Loss Level:
The invalidation level for the bearish setup appears near 2683.56, which is above the wedge structure.
4. Strategy:
Traders may consider short positions on a confirmed breakdown below the wedge, targeting 2647.30, while maintaining strict risk management with a stop above 2683.56.
This pattern highlights potential bearish momentum as long as prices fail to break above resistance levels.
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✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ ✅ Perfect Signals Provider With 90% Accuracy
✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.