XAUUSD | Rising Wedge (Risky Setup)

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Initiate Short.

Entry - 1550.11
TP1 - 1531.27
TP2 - 1524.84
SL - 1556.31

Reason: Rising wedge plus rejection by Ichi Cloud resistance. Also the Price might breakout of Ichi Cloud and lose its Pivot Point Support.

This asset highly risky for short though, if you are a conservative trader better to wait for good entry to long rather than short the asset.

Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.

Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advise.