A Rising Wedge on the Verge
Gold, the most volatile species in the Forex market. It's clearly known that gold is in the bull run for a few days and of course it would reach better highs.
However, if you look closely, there is a beautiful rising wedge forming in the lower time frame - check out 15 mins TF and a rejection candle from the supply zone, best chances that it will go down from here but be cautious - it could either go for a quick 30 pips move or another 100 pips move down to cover the previous price inefficiency.
Try to put your stop loss to entry once 1.25 RR is achieved and let it roll by closing half of your position at 1.5 RR.
No more than 0.5% risk on this one.
Apply strict risk management rule.
Have a good trading week everyone!
However, if you look closely, there is a beautiful rising wedge forming in the lower time frame - check out 15 mins TF and a rejection candle from the supply zone, best chances that it will go down from here but be cautious - it could either go for a quick 30 pips move or another 100 pips move down to cover the previous price inefficiency.
Try to put your stop loss to entry once 1.25 RR is achieved and let it roll by closing half of your position at 1.5 RR.
No more than 0.5% risk on this one.
Apply strict risk management rule.
Have a good trading week everyone!
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