XAUUSD: Short Breakout from Rising Wedge. Target 1223

Classic rising wedge. 90% of wedge breaks downside.
Yesterdays speech with expected popup is down to gutters.
I expect a slow fall towards 1223 which is crucial support at 0.5 fib.
Whereas upside is limited to 1248 - 1250.
This provides best Risk-Reward ratio.

Note: I am long from 1205 as well

Zlecenie aktywne:

Scalp Short 1244
Expected 1223

Zlecenie zamknięto ręcznie:

Touched 1234.5
Closed Short at 1236.55

Komentarz:

Looking for another Short entry if test of 45 fails.
clear break 45 leads to near term resistance 48-51 zone and then towards channel top 1260
s3.amazonaws.com/tra...shots/l/L7z4FW90.png

Komentarz:

With this Momentum. Breaking the wedge upside may enters the bullish zone. Next takeout will be 1251-52 Resistance Zone
s3.amazonaws.com/tra...shots/v/vu5Lg3FK.png

Komentarz:

We have breakout
let see if it clears 1248.5 resistance
s3.amazonaws.com/tra...l/lzyQJk4i_thumb.png

Komentarz:

oops hazy chart
s3.amazonaws.com/tra...shots/t/tzkLPe7S.png

Komentarz:

Clears first resistance 1248.72.
Next 1252.29

Komentarz:

Wont be updating this anymore. Pls look at this chart Ideas for broader TF. Thanks