Reversal for Gold ( Right - Angled Ascending Broadening Wedge)
This right angled ascending broadening wedge is a downward reversal pattern. Its formed by two diverging lines, the support is the horizontal range low and the resistance is an oblique bullish one.
I am waiting for a short entry / long entry at the bottom of the range
traditional strategy:
Entry:Opening a short position at the support break
Stop loss:The stop loss is placed above the support
Objective:Theoretical objective of the pattern
Advantage:Minimum objective very often achieved (91% of cases)
Disadvantage:Pullbacks are common (72% of cases).It may therefore be wise to wait for the pullback to open a position
The aggressive strategy:
Entry:Opening a long position on the 3rd contact with the support
Stop loss:The stop loss is placed below the last lowest point
Objective:Opposite terminal of the triangle
Advantage:The amplitude of the movement will be significant in the event of a bounce towards the opposite terminal.Low risk
Disadvantage:More frequent bearish exits
I am waiting for a short entry / long entry at the bottom of the range
traditional strategy:
Entry:Opening a short position at the support break
Stop loss:The stop loss is placed above the support
Objective:Theoretical objective of the pattern
Advantage:Minimum objective very often achieved (91% of cases)
Disadvantage:Pullbacks are common (72% of cases).It may therefore be wise to wait for the pullback to open a position
The aggressive strategy:
Entry:Opening a long position on the 3rd contact with the support
Stop loss:The stop loss is placed below the last lowest point
Objective:Opposite terminal of the triangle
Advantage:The amplitude of the movement will be significant in the event of a bounce towards the opposite terminal.Low risk
Disadvantage:More frequent bearish exits
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.
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.