Looking at this Inverse ETF in Gold I see potential weakness which is enough for me to want to hop in a short and hold it until it's in profit. Layering is key for these set ups and also knowing that the div isn't valid yet but I'm betting RSI will retract.
If you haven't already entered short from my previous idea, hop in on blue line break.
Here's one for you bulls and bears.. Take note of the wedges count and the fact that we broke out of the wedge in the first place. I'm a long term bull but I have to admit, I'm planning to short on price falling back out of the wedge. Just small position if at all.
This div pattern will almost always produce profit.. Looking for short of gold on wedge pop
You know hat to do, target top of pennant. Tight stops, bears could be trapping but Gold longterm target is 1485+ so hold if necessary.
We may end up kicking off rally from here or just die at 1400.
careful. bulls have control of trend still. tight stops
Bullish wedge forming fast out of this fall and is looking to retest the range with great possibility of extending to a HH.
XAUUSD- We won't get much drawdown off the rallies because Gold is still bullish longterm and bulls are more than happy to hold their positions.
Bulls seems very confident here and I agree some forward momentum should be coming soon but will it be enough for HH at this moment. I want to see us test 236 before HH.
That is all, goodnight. That extension may conclude the bull run.
Will price keep surging through the channel, or will the triangle send price back down sub 1300 one more time.