XAUUSD: Potential expanding/running flat suggests long entry

12 thg 11, 2019

In the past couple of sessions, price dipped from $1514 to $1450 and is now suggesting either a regular or expanding flat (this is confirmed by price pushing below the previous low). At current levels, price is now forming an ending diagonal sequence this usually indicates reversal. We also have divergence on the RSI to support the ending diagonal reversal. However, a long entry has not yet been confirmed. It is therefore important to wait for confirmation.