XAU/USD: gold made a trap from wedges

XAU/USD: gold made a trap from wedges

Recommendation:

BUY 1302

SL 1287

TP1 1332 TP2 1352 TP3 1362

On the daily chart of XAU/USD, a break of the lower border of the downtrend channel will increase the risks of a “Broadening wedge” formation and trigger the “Shark” pattern. Its 113% target allows distinguishing an important support level near 1302.

Gold1.png 

On H1, XAU/USD may trigger the junior and the senior “Broadening wedge” patterns. As a result, the risks of correction increase. On the other hand, a pullback from support near the 113% target of the “Shark” will allow the bulls to counterattack.

Gold2.png

Similar

USD/JPY: the Bears have won

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines

jpy

Popular

Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera