Gold, short term bearish wedge play

28 באוג׳ 2018

From the looks of it gold has formed a a small bearish wedge, it's not the best i have seen but looks good. Good risk reward because of the tight stop. Longer term could be an inverse H&S (blue line), but it's an ugly one. It does fit the picture of the strong bounce gold has made a week ago.

28 באוג׳ 2018

הערה

Looking good, if we reach the target i would close half or 66% and trail the remaining, because if that green support breaks, it could drop more.

28 באוג׳ 2018

הערה

Target reached, i would move the stop for the remaning towards the red line. If the green support breaks, we could see much more, so it's worth risking.