• Vasily Trader

GOLD (XAUUSD) Interesting Trading Opportunity! (forecast/Trading Plan)

hey guys,

gold keeps setting lower highs on a daily and consolidation continues.

yesterday, once the market reached a triangle resistance, the price formed a double top formation

then broke and closed below a support line of a rising wedge pattern.

with a high momentum bearish candle, the breakout is confirmed now

and we have an opportunity to short the market on a retest.

our sell zone is the expanding area between a broken rising support of the wedge and a horizontal support of double bottom .

goal - 1927 (support of the triangle)

if the market drops to the target not retesting our zone, setup will be invalid.