FX:XAUUSD   Gold Spot / U.S. Dollar
There is a great potential sell setup forming in Gold             on the H4 chart. Commodity has been trading higher for the past few weeks and it is not approaching good reversal levels, even if only for the short term. The bearish divergence is another confirmation for the bearish outlook

Once the false breaks are there, next step is to look for a correction. Ideally we will get a double wave on the intraday charts M15/H1 and we can sell. The sell could be triggered either from a false break at the end of the double wave correction or when the short term up trend line (connecting the lows of the double wave) is broken down. First method is a bit more aggressive but the risk:reward is usually better compared to the second method which is more conservative.

Protection in both cases should be above the last high and the target is near the H4 up trend line (image above)..
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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
AR العربية
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