Falling wedge breaking out. Volume declining and price did retest and hold the wedge as support when it broke out. Forgot to post this 30min ago, oops. Price may be breaking out but i do potentially see a rising wedge forming which could dump back to where it formed and or to the measured move i have shown which is a basic gold pocket retracement. Multiple bullish patterns could form (Inverse head and shoulders, double bottom, ascending triangle, cup and handle, bull flat/pennant.) 15min Stochastic is overbought so price is likely to come back down POSSIBLY BACK TO ENTRY PRICES OR LOWER. So that is why it is best to wait for a bullish retest of the falling wedge and see price show strength and not break the low for continuation.
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