Head & Shoulders and Divergence on RSI . I will buy at 52.70. Good luck :-)
Comments
Madpips
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Trading long.
R_vasile
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Hi Madpips, quite new to this so take it easy. RSI trending lower, wouldn't that indicate price is heading lower?
Madpips
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@R_vasile, Yes, you are correct. the price will move lower with the RSI. However, when the price hits 52.70 it will be oversold on RSI. Also the price has tested this price twice last week and not gone below.I will have my stop loss at 52.60.I believe the troubles with North Korea will drive up the price of OIL and Gold.
Expect big gaps and big wicks when trading starts next week.
Hope this helps.
R_vasile
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@Madpips, ahh that makes sense, i'll check out the gold chart also. Appreciate the reply!
Madpips
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@R_vasile, No problem. Good luck with your trades.