Negative divergence taking shape on XAUUSD

FX:XAUUSD   Gold Spot / U.S. Dollar
304 5 5
There's currently a potential negative divergence that is appearing on the 30 minute chart, and this seems like the correct timing for an attempt at that short position I talked about yesterday. The stop-loss should be placed just above $1160. If in the next 3 hours prices rally sharply, this will invalidate the divergence and will merit cutting losses without too much pain.

I think Gold will drop down
I'm cutting on this one. This is a failed strategy.
Looks like my negative divergence isn't going to be validated.
We have China data coming out next.
Big one for AUDUSD; gold and EURUSD.
It's possible that this is the catalyst the short needs.
Hey Adrian, I believe it would be better to wait for market to break structure, like 1149.69 level, before shorting it. Divergences can be misleading. All the BEST to you :)
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out