There is a great potential sell setup forming in Gold on the H4 chart. Commodity has been trading higher for the past few weeks and it is not approaching good reversal levels, even if only for the short term. The bearish divergence is another confirmation for the bearish outlook Once the false breaks are there, next step is to look for a correction. Ideally we...
Please see annotated chart for details.
Please see annotated chart for details.
Please see annotated chart for details.
GJ is currently forming a nearly identical structure. It's currently trading inside of a wedge and just made a new high before crashing down again. We could see it re-test the previous low and even break towards a lower one. Trade with care as it can break towards the upside again. Entry = 157.90 SL = 158.35 T1 = 156.00 T2 = 155.50
Please see annotated chart for details.
Please see annotated chart for details.
Please see annotated chart for details.
Please see annotated chart for details.
I believe the bearish pressure is still here and this is why i'm looking to short the pair. There is H1 hidden bearish divergence forming already. If the price reaches the sell zone and the hidden divergence completes itself i will be looking to sell. Target 1: 0.78 Target 2: until bullish divergence forms
Might be H&S forming, but also could break higher. Not really sure right now, but it looks like a big move could be underway. MACD looks a bit unclear, CCI appears to be bottoming, RSI looks like it could rebound but near 50. New phone looks to be a bust, and is just meant to be a filler pre-7 release.