ZenFlo

Gold setup and a bonus RVI indicator demonstration

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
So in this post I am going to show you an indicator you probably have never heard off and that is the relative vigor index , here in the chart I have shown a few examples of how it can be used for confirmation, It can either be used to spot hidden divergences or used for when price pullsback to a moving average as a tell tale sign the market is ready to continue down or up. The XAU trade here is using the pinbar rejection of the moving average as a strong sell signal as I expect the USD to get stronger over the next couple days, I would expect XAU to try move lower after its long spell of ranging.
Trade closed: target reached
Comment: +400 pips

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