Is this a double top? just take a look to the RSI Stoch Index
I know that a lot of good traders are foecasting that gold is going to the sky, but maybe not. Lets see.
Right now XAUUSD is doing a double top with in the same place we left gold since mid april. Also watch the blue gross line showing us the superior side of the weekly trend we had been surfing since mid 2016 ..... all history. So this trend direction will be determined tomorrow and next week during Fed meeting.
In the tech analysis, right now we are touching the 61.8 fibo retracement for line a. to b. so is very probable a retracement if we continue the weekly trend I already talk about making a nice correction. And very, very, very important, take a look to the Stoch RSI Index that is showing us a widely overbought pair. For this trade aout EP is 1257.360 SL 1276.500, TP1 1220 or 38.4 fibor retracement for line ab, and TP2 1177.500.
Right now XAUUSD is doing a double top with in the same place we left gold since mid april. Also watch the blue gross line showing us the superior side of the weekly trend we had been surfing since mid 2016 ..... all history. So this trend direction will be determined tomorrow and next week during Fed meeting.
In the tech analysis, right now we are touching the 61.8 fibo retracement for line a. to b. so is very probable a retracement if we continue the weekly trend I already talk about making a nice correction. And very, very, very important, take a look to the Stoch RSI Index that is showing us a widely overbought pair. For this trade aout EP is 1257.360 SL 1276.500, TP1 1220 or 38.4 fibor retracement for line ab, and TP2 1177.500.
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Trade Active ...... your EP is near. To be honest I placed a trade in my real account since thursday last week .... my mistake, but my profits are so beautiful.
