I spot patterns quite a lot and with an added RSI it gives me some more directional bias.
So this is what I am seeing right now with the 1 2 3 numbers shown on the chart is some kind of head and shoulders on a weekly timeframe. The RSI is also showing a bearish divergence
Gold is obviously getting weaker but there are still a few levels of support to watch.
So this is what I am seeing right now with the 1 2 3 numbers shown on the chart is some kind of head and shoulders on a weekly timeframe. The RSI is also showing a bearish divergence
Gold is obviously getting weaker but there are still a few levels of support to watch.
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IMPULSE - CORRECTION - IMPULSE
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Potential reversal?
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Crazy moves and patterns with no clear direction. Best to sit and wait.
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Follow the trend...
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XAUUSD at a crossroad. Are you bullish or bearish?
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Hopefully you followed the trend...
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2015-16 proves to be quite a strong support. XAUUSD is currently attempting to break out to the upside. Very interesting price action lately. Follow the trend and price action always.
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Gold has bounced 3 times at the .618 golden ratio of the fib retracement from the 18th Dec move up. With the Middle East war that escalated recently, it sure plays in the recent rise of XAUUSD. Let's see how it goes.
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