Gold descending wedge breakout + retest?

**Drag chart across to view text
**Ascending wedge arrow should be "descending wedge"
TECHNICAL

Reason 1:

Pattern: Ascending wedge
1. Broken out of ascending wedge sideways
2. Retested ascending wedge upper descending trend line on 15/06/2018 during selloff

Reason 2:
-RSI oversold at similar levels to in the past

Reason 3:
-At lower limit of daily bollinger band

FUNDAMENTAL

-US trade war escalating with china, canada, france

Still fairly new to trading, appreciate any comments, tips etc. Just an idea. I am not advising to place a trade

Bình luận:

Looking like may be forming an ascending triangle reversal pattern on the 30 minute timeframe with resistance @ 1282.00 (Physchological level?)
Setting a buy stop order 10 pips above @ 1282.10, SL @ 1276.9, TP to be updated, as if there is a breakout to the upside, move expected to be very bullish over the long term from personal research.

Bình luận:

Doji candle also formed within the selloff, at the resistance level of the possible ascending triangle reversal

Bình luận:

**on the 30 minute chart