Nice observation, pullbacks can create nice entries. I usually work with parallels however I wanted to see where the current move sits with a fork and your chart workup......One thing looks pretty clear...the current move is at extreme based on my fork, I personally like it to close outside the fork and then close back in the upper parallel, However the fact that it pulled down pretty hard on the wide range weekly bar makes it pretty obvious that we should get some sought of pullback to equilibrium ( the median line ) around the 1180-1190 level....If it gets to that level we can then re-evaluated if it's just a correction before a larger impulsive move or a true change in direction. interesting to see.
piphunters
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nice, thanks
jhakas
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intraday gold setup
piphunters
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good luck
jhakas
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thanks!
piphunters
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you are welcome
GoodLuckbabe
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this is very very possible setup brother as this falling wedge always break to up side but i am slightly looking on it from different point of view i think we are still in descending channel and price can fall back again but little cautious on it as MACD showing very strong divergence but i am waiting for the price action on channel trend line and response from MACD thanks for sharing
Look like movement