GOLD open SELL TRADE

4 Nov 2020

The movement of Gold in the Wedge pattern continues to form a figure.

We know that in this case - price fluctuations are getting smaller, it literally stabilizes between two closely spaced and intersecting support and resistance lines.
Recently, the price just came to the resistance line. And in the last forecast I said that it will start to fall - we can see the beginning of a downtrend on today's chart.

I use a smaller timeframe for clarity, so that the downward price movement is more noticeable.



And so: contact with the resistance line, the beginning of the fall and the completion of the formation of the figure. Together, this gives us a good signal to open a sell trade!
TP - I am waiting on the support line, where in my opinion the price will fall. Don't forget about SL - set slightly above the resistance line to protect yourself if the price suddenly starts to rise.

Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩‍💻