XAUUSD is seen consolidating in a symmetrical triangle range for some time now. However, this idea elaborates what to expect if the triangle breaks in one of the two directions.
1- Orange lines demonstrate the possible targets if this big consolidation manages to break low empowering bears to take over the yellow metal
2- Green lines mark the possible targets if consolidation breaks high
Note: These targets are purely based on historic data in terms of supports and resistances
Indicators output:
1- RSI is still demonstrating a divergence which is the signal to expect lower targets
2- We are still above the ichimoku cloud , so according to Goichi Hosada, we are still bullish
3- MACD is diverging as well as undergone death cross
Our entry signal, without a doubt, is the wedge breakout!
Best of luck and happy trading :-)
1- Orange lines demonstrate the possible targets if this big consolidation manages to break low empowering bears to take over the yellow metal
2- Green lines mark the possible targets if consolidation breaks high
Note: These targets are purely based on historic data in terms of supports and resistances
Indicators output:
1- RSI is still demonstrating a divergence which is the signal to expect lower targets
2- We are still above the ichimoku cloud , so according to Goichi Hosada, we are still bullish
3- MACD is diverging as well as undergone death cross
Our entry signal, without a doubt, is the wedge breakout!
Best of luck and happy trading :-)
Nota
triangle broken high, waiting for a retest of the upper neckline of the pattern to buy :-)Nota
upper Target 1 hit at 2030Nota
Minor pattern inverted cup and handle spotted, we might retest the broken wedge before going anywhere else
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.