It's been quite a while since my last idea.
This time I want to try using different approach for my analysis.
IF in the next couple hours GOLD stay in this price (around 1826) we can see a divergence in the 4h chart.
Usually when we see a divergence. It means as a reversal signal. But this time I use it contrary.
The key here is two support zone in the small blue area. And also the volume in the market when it is approaching this area.
It will become a BEARISH DIVERGENCE only if there is a significant gains in volume from the seller.
So I assume that it will have a small volume in the next couple of 4h candle.
That's why I will use the BLUE AREA as a support area, and it means that I will put some BUY LIMITS in those AREA.
There will be two scenarios that is shown by the green arrow.
This time I want to try using different approach for my analysis.
IF in the next couple hours GOLD stay in this price (around 1826) we can see a divergence in the 4h chart.
Usually when we see a divergence. It means as a reversal signal. But this time I use it contrary.
The key here is two support zone in the small blue area. And also the volume in the market when it is approaching this area.
It will become a BEARISH DIVERGENCE only if there is a significant gains in volume from the seller.
So I assume that it will have a small volume in the next couple of 4h candle.
That's why I will use the BLUE AREA as a support area, and it means that I will put some BUY LIMITS in those AREA.
There will be two scenarios that is shown by the green arrow.