Gold Rebounds off the 7 Day Moving Average
Gold dipped lower in the overnight session but then rebounded off the 7 day moving average. Price is now at the top of the weekly highs and looking to move above 1250.
I've added a second haDelta indicator which is set to track the weekly Heikin-Ashi candles. Now both the daily and weekly are aligned in blue. This is a great way to stay in the trade and to filter out noise. For example, yesterday was a down day but even though the sma on the daily haDelta moved down, the overall trend remained up. The Heikin-Ashi candles also remained Green.
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
I've added a second haDelta indicator which is set to track the weekly Heikin-Ashi candles. Now both the daily and weekly are aligned in blue. This is a great way to stay in the trade and to filter out noise. For example, yesterday was a down day but even though the sma on the daily haDelta moved down, the overall trend remained up. The Heikin-Ashi candles also remained Green.
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
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