FX:XAUUSD   Gold Spot / U.S. Dollar
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XAUUSD             has a Bullish Divergence in play at the 240 as well. I will watch closely and see if Gold             makes another attempt up to 1235 - 1240 area where I will go short. One needs to pay close attention to USD yields and Index to time the trades good on this one.
Stopped out,
Stopped using MAs after this one when looking at the price action and what went wrong. The Down side rally started way higher up but I was mislead by the so called Death Cross (when the 50 day moving average crosses below it’s 200 day moving average) when you study the charts you will realize that MAs can really put you on the wrong side of the trade and get you into trades very late. I entered short just before a Bullish Divergence showed up because the sell off rally was over by then. No more MAs for me. Have learned my lesson
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