I have posted a 4H chart on Twitter only lately. This daily chart shows similar signals, from Heikin-Ashi point of view.
First of all: no doubt the big picture is bearish. Meanwhile there are few signals on the chart, that suggest a bounce higher may soon happen.
- Price is still far below Kijun Sen -> should correct at some point
- Second inside candle -> no lower low for last two days
- haDelta has developed minor positive divergence. CHance for a cross up above SMA3, but the indicator is still below zero
- haOscillator crossed up, value above 50 -> can be a counter bullish indication
- A bullish wedge in play
- Upper supp/res to watch: Tenkan Sen at 1169. Should Gold close above, a retest to 1200+ will be possible.
Obviously FED bla-bla talking will be a key today. The rate hike is well priced in, so the hike itself doesn't matter much.
Trade only if you see a clear buy signal. Don't go long with very big leverage, as this would be a counter trend swing trade.
First of all: no doubt the big picture is bearish. Meanwhile there are few signals on the chart, that suggest a bounce higher may soon happen.
- Price is still far below Kijun Sen -> should correct at some point
- Second inside candle -> no lower low for last two days
- haDelta has developed minor positive divergence. CHance for a cross up above SMA3, but the indicator is still below zero
- haOscillator crossed up, value above 50 -> can be a counter bullish indication
- A bullish wedge in play
- Upper supp/res to watch: Tenkan Sen at 1169. Should Gold close above, a retest to 1200+ will be possible.
Obviously FED bla-bla talking will be a key today. The rate hike is well priced in, so the hike itself doesn't matter much.
Trade only if you see a clear buy signal. Don't go long with very big leverage, as this would be a counter trend swing trade.
