Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Some time ago price declined to support level, which coincided with support area, and then started to trades in wedge.
In this pattern, Gold made upward impulse from support line to resistance line, breaking $2390 level.
But soon, it turned around and declined back to support line of wedge, and then started to move up.
Gold soon rose to resistance line and then made strong downward impulse, breaking $2390 level and exiting from wedge.
Also then, price declined lower than support area, after which entered to rising channel and later broke $2320 level.
Possibly, now Gold can decline to support line and then bounce up to $2370 resistance line of channel.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some time ago price declined to support level, which coincided with support area, and then started to trades in wedge.
In this pattern, Gold made upward impulse from support line to resistance line, breaking $2390 level.
But soon, it turned around and declined back to support line of wedge, and then started to move up.
Gold soon rose to resistance line and then made strong downward impulse, breaking $2390 level and exiting from wedge.
Also then, price declined lower than support area, after which entered to rising channel and later broke $2320 level.
Possibly, now Gold can decline to support line and then bounce up to $2370 resistance line of channel.
If this post is useful to you, you can support me with like/boost and advice in comments❤️