XAU/USD: Long@descending support line of wedge 1065/70.

17 thg 11, 2015

Descending wedge has actually been in formation since June 2013 as can be seen clearly on weekly. It's a strong pattern which also has another descending wedge within it, in formation since the start of this year. Trade rangebound within smaller wedge for now and go long from the bottom of descending support 1065/70. As you can see it fell out of small ascending wedge to target support - now? Time to go long.