Gold is trading inside a Channel Down, under the MA50 (4h).
The price recovered today as it made a Lower Low on the Channel's bottom after the RSI gave a Bullish Divergence and the MACD eventually formed a Bullish Cross.
Trading Plan:
1. Sell as long as the price closes under the Resistance level and the MA50 (4h).
Targets:
1. 1935 (Support 2).
Tips:
1. The RSI (4h) is under a Falling Resistance since October 20th. Sell if it stays under.
2. Further validation for a sell, when the MACD (4h) forms a Bearish Cross.
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Notes:
Past trading plan:
The price recovered today as it made a Lower Low on the Channel's bottom after the RSI gave a Bullish Divergence and the MACD eventually formed a Bullish Cross.
Trading Plan:
1. Sell as long as the price closes under the Resistance level and the MA50 (4h).
Targets:
1. 1935 (Support 2).
Tips:
1. The RSI (4h) is under a Falling Resistance since October 20th. Sell if it stays under.
2. Further validation for a sell, when the MACD (4h) forms a Bearish Cross.
Please like, follow and comment!!
Notes:
Past trading plan:
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