XAUUSD Hit TP Update (SHORT SCALP)

29 Agu 2021

So XAUUSD managed to hit TP 1. Looking at the price now, I see an ascending broadening wedge pattern. As you can see the price has almost perfectly bounced off the pattern's trendline. It is also looking to touch the upper line for the third time. According to my experience and almost every other trader in the world, if the price touches the trendline for the third time it usually bounces off quite significantly. So, I will go short on XAUUSD when the market opens and will take profit at the horizontal line I put on the chart which i got from the previous strong support.