Gold (XAUUSD) is forming a rising wedge pattern near a key resistance zone — a critical area to watch. While this pattern typically suggests a bearish reversal, traders should stay open to both scenarios.
🔻 A breakdown below wedge support could signal a short opportunity, targeting lower support zones.
🔺 However, a strong breakout above the resistance zone with volume confirmation might invalidate the bearish setup and trigger bullish momentum.
Wait for confirmation before taking any trade — we may get good moves to trade.
🔻 A breakdown below wedge support could signal a short opportunity, targeting lower support zones.
🔺 However, a strong breakout above the resistance zone with volume confirmation might invalidate the bearish setup and trigger bullish momentum.
Wait for confirmation before taking any trade — we may get good moves to trade.
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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.
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.