Made quite the rally without a real correction, now it looks like a small wedge. It's not a great one, because it is a bit to steep (the support line) and could also be a ascending triangle. But worth the shot with a 1.5/2 point stop making it a good RR trade for me.
The blue line shows a tiny H&S on the low time frame, if that breaks, it could work out.
The blue line shows a tiny H&S on the low time frame, if that breaks, it could work out.
Trade stängt: Stopp nått:
That neckline never broke and the shape of the wedge was a clue as well here. The trend of Gold is much to strong now. With yesterday's news that the FED is being cautious with raising interest, the dollar got dumped and gold got pushed up even more. So capital is moving towards gold again as a safe haven.
I knew the trend was strong, but as the title says, it was a scalp, trying to trade a small pattern.
I knew the trend was strong, but as the title says, it was a scalp, trying to trade a small pattern.