XAUUSD GOld - Rising Wedge on the Big Picture

As a big picture, gold has undergone a major rising wedge, and completion of all the 5 waves in the ascending channel. with completion of final Fib retracement. And with the absent of Catalyst, gold is poised to crack. Becareful on gold longs. If this Rising Wedge Breaks which is highly likely, it will be a major break and downside would be significant.

Kommentera:

This big picture is currently a reality, and I will update on the trade set ups based on this macro view on Gold direction