@aisha1985 on XAUUSD | PriceONN Community

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aisha1985 PRO newbie
XAUUSD Mar 10
Has anyone else spotted a potential descending wedge forming on the daily chart? The price has been making lower highs and seems to be converging towards a support level. If the price breaks above the upper trendline of the wedge, it could signal a significant bullish move. I'm watching closely for a breakout confirmation.
XAUUSD

Replies (1)

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ryan8990 PRO newbie Mar 14
@aisha1985 Descending wedge, huh? I see what you're looking at. Be careful with those patterns, tho. Sometimes they're just inducement before a bigger move down. But with gold oversold like this, could be a good long opportunity if it breaks with some volume. Make sure to use a tight SL!
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