"XAUUSD Analysis: Rising Wedge Formation with Target Projection
Updated
This chart shows the XAUUSD (gold) price movement with a clear rising wedge pattern. Key observations include:
1. Rising Wedge Formation:
A bearish continuation pattern suggesting potential price breakdown.
Price is consolidating within converging upward-sloping trendlines, indicating weakening momentum.
2. Breakdown Target:
A potential move downward is projected with a target near 2647.30.
This aligns with the measured move of the wedge's height.
3. Stop-Loss Level:
The invalidation level for the bearish setup appears near 2683.56, which is above the wedge structure.
4. Strategy:
Traders may consider short positions on a confirmed breakdown below the wedge, targeting 2647.30, while maintaining strict risk management with a stop above 2683.56.
This pattern highlights potential bearish momentum as long as prices fail to break above resistance levels.
1. Rising Wedge Formation:
A bearish continuation pattern suggesting potential price breakdown.
Price is consolidating within converging upward-sloping trendlines, indicating weakening momentum.
2. Breakdown Target:
A potential move downward is projected with a target near 2647.30.
This aligns with the measured move of the wedge's height.
3. Stop-Loss Level:
The invalidation level for the bearish setup appears near 2683.56, which is above the wedge structure.
4. Strategy:
Traders may consider short positions on a confirmed breakdown below the wedge, targeting 2647.30, while maintaining strict risk management with a stop above 2683.56.
This pattern highlights potential bearish momentum as long as prices fail to break above resistance levels.
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✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
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