Hello my beauties!
A nice opportunity here as gold is set to break out of its range after a spring on a 1h/30m accumulation! Watch out and good luck, always wait for confirmation and don't be greedy!
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On the 1hr/30mins/15mins timeframe, I spotted both a reversal rising wedge & a continuing falling wedge which indicates that there is strong support at that specific area which is the 83.7 to 83.9 area. That support area has also been targeted before so that's another strong indication that the market is now using that as a retracement for further support.
I have...
Hey Traders, This is another short time-frame trade. This is an unstructured consolidation trade and when the Pattern is formed, RSI will indicate over-sold.
For better Risk and Reward, You can hit entry on 'X'/Double Bottom.
TP1 is my regular Fibo 38.2 and TP2 50.0/61.8
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