How Do I Analyze Rising Wedge Chart Pattern?

Trading XAUUSD Interpret Rising Wedge Chart Pattern

Analyze Rising Wedge Chart Pattern

The rising wedge chart pattern forms during an upward gold trend and this rising wedge chart pattern shows that the upward trend direction is going to continue - the rising wedge pattern is a continuation chart pattern.

Rising wedge xauusd chart pattern shows that there is a xauusd price resistance level that the gold buyers keep pushing - each time moving this xauusd price resistance level higher, and once this xauusd price resistance level breaks - the xauusd price will continue moving in an upwards xauusd trend.

Trading XAUUSD Interpret Rising Wedge Chart Pattern

Rising wedge xauusd chart pattern overhead resistance temporarily prevents the xauusd price from advancing and moving higher, while the rising gold trend line beneath the rising wedge chart pattern shows that gold buyers are still present.

An upside xauusd price penetration of the upper rising wedge chart pattern line is interpreted as buy signal -price out from an rising wedge chart pattern.

Rising Wedge xauusd pattern is found within a gold upward trend - rising wedge chart pattern forms as a consolidation period within the upward trend and this gold trading continuation chart pattern shows an upside gold trend continuation will follow.

How to Analyze Rising Wedge Chart Pattern

The xauusd price formed an rising wedge pattern during its upwards gold trend move and this rising wedge chart pattern led to an upside continuation of the xauusd price as shown on the xauusd trading example above after a xauusd price breakout upwards. The buy signal is generated when the price moves above the upper sloping rising wedge chart pattern line after which the xauusd price continues moving upwards - gold upwards trend continuation.

Interpret Rising Wedge Chart Pattern?