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breakoutfakeout

Gold double bottom? 1hr divergence play

Long
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
breakoutfakeout Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
Trend Analysis Chart Patterns Technical Indicators Gold goldtrading
7
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trendanalysis chartpattern indicator gold goldtrading
Gold looks good for a move upwards with RSI and MACDH divergence and a long legged doji reversal candle. We could be seeing a kind of double bottom, so a move up tp the neckline would make a good profit target. As usual I will be taking profits on the way up if any negative signal comes along.
Comment:
Closed out longs for a nice profit once 1 hr MACDH turned negative. Look to re-enter or go short
Comment:
Re-entered long after the higher low on the hourly chart for another run up, took profits before weekend close on my trading platform, will look to re-enter longs again on Sunday evening
Trade active:
Profit target reached
Trade closed: target reached
About me: I'm a retail day trader (trading since 1993). Most ideas here are for short time frames and become profitable quickly. I take profits fast as things change fast. 1-2-1 mentoring sessions available.




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