There is a very good opportunity on GOLD. The prices have consolidated in a flat on DAILY and it now meets a support zone.
Buy Scenario: We have bullish hidden divergences on both Daily and H4 and normal bullish divergences on M30-H1, which suggest that another bullish movement should come. In order to place a long, I'm waiting for a Daily bullish candle.
Sell Scenario: If the support zone doesn't hold and we have a breakout of this flat, we should wait for a retest of the 1302-1303 zone and then we will have a great opportunity for a short. Good luck!
Buy Scenario: We have bullish hidden divergences on both Daily and H4 and normal bullish divergences on M30-H1, which suggest that another bullish movement should come. In order to place a long, I'm waiting for a Daily bullish candle.
Sell Scenario: If the support zone doesn't hold and we have a breakout of this flat, we should wait for a retest of the 1302-1303 zone and then we will have a great opportunity for a short. Good luck!
Comment:
I'm waiting for a retest in order to go short!
Trade active:
A very nice opportunity to fire a short!
Comment:
I secured the trade. The price is about to meet a montly bullish trend, so we must be careful in this area
Comment:
The price meets a weekly and daily bullish trend and also creates a bullish normal divergence on daily. I expect to see a correction of the price up to the h4 bearish trend at least. I am out of my short as I see uncertainty in the market. If the price gets rejeced from the daily trendline, breaks the H4 bearish trend and retests it, I will go for a long. Otherwise, I will stay out of trading gold until I see other opportunities. If the price breaks the daily trendline, we can see a the price getting to 1250-1240, but I probably won't trade this.
Trade closed manually