Just posted the falling wedge Gold is printing on the lower timeframe. the higher time frame is also trading in a bigger falling wedge. This bullish chart pattern is supported by the strong support level at 1785 where a double bottom is a confluence of a reversal possibility.
Trade active:
Price just broke the upper resistance on the lower time frame.
PS. Gold price is inversly correlated with the price of major indices such as SPX, Nasdaq or Ger30. Both are trading in exactly the same pattern but the other way around. So when you long Gold, short indices.
PS. Gold price is inversly correlated with the price of major indices such as SPX, Nasdaq or Ger30. Both are trading in exactly the same pattern but the other way around. So when you long Gold, short indices.
