AdrianRaymondFX
Short

Negative divergence taking shape on XAUUSD

FX:XAUUSD   Gold / 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.
HERE IS THE NEXT POTENTIAL SHORT ON GOLD


I think Gold will drop down
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I'm cutting on this one. This is a failed strategy.
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Looks like my negative divergence isn't going to be validated.
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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.
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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 :)
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