What's Rising Wedge Chart Pattern in XAUUSD?
Trading Gold Identify a Rising Wedge Pattern in XAUUSD
The Best Trading Setup Patterns Tutorial for Beginners - How to Identify and Trade Rising Wedge Chart Pattern
Gold Setup Patterns for Day Trading - Trading Patterns Lesson
This Rising Wedge patterns charts tutorial explains how to identify chart setups - identifying chart setups is the first step when it comes to learning how to trade with Rising Wedge chart setups in XAUUSD.
Rising Wedge chart pattern in price patterns commonly form on XAUUSD charts and this chart pattern analysis guide explains how to trade & analyze charts using Rising Wedge chart setups.
Rising Wedge Pattern
The Rising Wedge chart pattern in xauusd is formed in a xauusd up trend & it shows that the upward direction of the market is going to continue.
Rising Wedge chart pattern setup highlights that there's a resistance area that the buyers keep pushing every time moving it higher, and once it breaks-out price will continue moving upward.
The overhead resistance temporarily stops the market from advancing higher, while the ascending trend line beneath the pattern signals that buyers are still present. An upside penetration of the upper line is a technical buy signal for a market breaking out from an Rising Wedge chart pattern setup.
Rising Wedge chart pattern setup is found within a XAUUSD upward trend, the Rising Wedge xauusd pattern forms as a consolidation period within the up xauusd trend & demonstrates upside trend continuation will follow.
Trading Gold Identify a Rising Wedge Pattern in XAUUSD?
The market formed an ascending triangle chart pattern setup during its up xauusd trend which led to upside continuation. Buy point is when the price clears the upper slanting line & the market continues moving upwards.
