XAUUSD- Rising Wedge Pattern
1. Rising Wedge Pattern:
The price is moving within a rising wedge, which is a bearish pattern. The wedge is formed by two trendlines converging upward. As the price approaches the wedge’s apex, it suggests potential weakening momentum.
2. Fibonacci Levels:
A Fibonacci retracement is applied, with the Fibonacci 0.5 level used to define the stop-loss area, indicating a key resistance level around 2,507.
3. Entry:
The entry point is set just below the Fibonacci level, likely anticipating a breakout to the downside, consistent with the rising wedge pattern. The entry is around 2,502.
4. Stop Loss:
The stop-loss is positioned above the Fibonacci 0.5 level, around 2,508, to protect against potential upward movements, likely expecting the price to remain below that level if the pattern breaks down.
5. Take Profit:
Take Profit 1: Placed around 2,493, targeting the nearest support level based on previous price actions.
Take Profit 2: Positioned further down at 2,486, indicating a deeper downside target if the bearish momentum continues after the wedge breakdown.
The price is moving within a rising wedge, which is a bearish pattern. The wedge is formed by two trendlines converging upward. As the price approaches the wedge’s apex, it suggests potential weakening momentum.
2. Fibonacci Levels:
A Fibonacci retracement is applied, with the Fibonacci 0.5 level used to define the stop-loss area, indicating a key resistance level around 2,507.
3. Entry:
The entry point is set just below the Fibonacci level, likely anticipating a breakout to the downside, consistent with the rising wedge pattern. The entry is around 2,502.
4. Stop Loss:
The stop-loss is positioned above the Fibonacci 0.5 level, around 2,508, to protect against potential upward movements, likely expecting the price to remain below that level if the pattern breaks down.
5. Take Profit:
Take Profit 1: Placed around 2,493, targeting the nearest support level based on previous price actions.
Take Profit 2: Positioned further down at 2,486, indicating a deeper downside target if the bearish momentum continues after the wedge breakdown.
Transaction en cours
ActiveTrade fermée: ordre d’arrêt atteint
Stop Loss Reached
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.