GOLD (XAUUSD) TRADING PLAN!

5 thg 5, 2020

hey guys,

gold is stuck in consolidation on a daily.
we don't know how long it is gonna last and to which direction it will go next,
however, we already have some clues to consider:

though the price keeps setting higher highs we see a clear rsi divergence (here I mean daily candle closes, not wicks),
double top formation

it is a perfect potential counter-trend trading setup:
I have an alert below the underlined horizontal support,
I am looking for a daily candle close below that to short the market on retest.

stop/targets are on the chart!

in case of a higher high formation after a consolidation,
I won't trade at all!


also, consider intraday trading within the underlined range.
shorting from resistance, buying from support, till in ends :)

good luck!