wsbpeasant

XAUUSD (Daily) Trade Ideas

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
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6


A rising wedge pattern can be seen from the chart.
Solid lines represent "major" S/R areas while broken lines represent "minor" S/ Rs .
Since rising wedges do not necessarily mean a huge breakdown is coming*, price action should be carefully considered when entering a trade.

I'm inclined to be a bear on XAUUSD .

*Some rising wedges breakdown a little then go back up.

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Time will tell
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