There is a bearish candle after several days of bullish trend.
"Gold prices remain lower as market sentiment improves" finance.yahoo.com
After a bullish day, Tuesday was a day in red for most of the markets worldwide. Generated mainly by a fall in oil prices, which led to levels that it did not reach for many days. www.reuters.com
VM-RED Trading Strategy: A typical .886 combinationof Fib has formed. So, a VM-RED strategy can be adopted to take this trade. Although we've missed the best entry level, it's the thought that matters! As shown in the chart. Cheers! Jason
I haven't posted anything on this pair as of late while waiting for things to clear up somewhat. Well, looks like things are becoming much more clearer as to what is happening and what could potentially happen next. There are appears to be a pretty good sell setup coming soon. Not yet. But soon. What you are seeing here is an "small" (relatively speaking...
I drew a triangle based on OBV's 50 hour moving average (orange), and mirrored the triangle on price. Red and green areas are 80/20 % overbought / oversold zones. At this moment we are in the overbought zone so you can try a short here. I expect a big move of ca. 50% after price breaks out of the triangle. Targets: Upside: 333-375 Downside: 130-90 Cheers :...