XAUUSD Approaches Wedge End Right on Schedule

2020年9月16日

Gold has been playing ping pong within its current wedge for quite some time now, keep eyes peeled for breakout above current wedge with 1973 as a level that is required to break to currently discredit the Higher Low and Lower High structure, breakout can be to the upside or downside, however with current Asia/USA tension the buying of metals particularly on the asian sessions have been very strong and are likely to push XAUUSD above the wedge, I am personally looking for long entries at the following levels: 1952, 1967, 1975. From there we are in a new territory and will rely strongly on 1H and 4H Price action to determine further entries. Current Sell Stop Placed at 1988 as it is next major fib level. IF momentum is strong moving into this price will remove short position and continue to ride the long. My current outlook of this move is 1998 with a potential strong retracement back to 1969 before crossing into the 2000 zones. Trade safe, and always remember risk management is the key. Best of luck to all!

2020年9月17日

註釋

PA broken down to larger support. wait for 1935 bounce for long