Gold - Descending Broadening Wedge
Just an idea what might happen with today's Trump inauguration speech. Maybe a dump before the speech to 1190 levels to create the last wave E and then up to break the wedge upwards to go to 1220-30 levels.
Sure will be volatile so ...
do your own homework and trade safe !
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Descending broadening wedges are continuation chart patterns formed by a channel that widens and is against the trend. Forex volumes tend to increase during the formation of such a wedge.
A break through the resistance line provides a good signal to trade into a continuation of the trend with a price target equal to the height that separates the pattern's high and low.
Sure will be volatile so ...
do your own homework and trade safe !
---
Descending broadening wedges are continuation chart patterns formed by a channel that widens and is against the trend. Forex volumes tend to increase during the formation of such a wedge.
A break through the resistance line provides a good signal to trade into a continuation of the trend with a price target equal to the height that separates the pattern's high and low.
Is it gonna hold this time?