Bearish divergence on gold

FX:XAUUSD   Gold/U.S. Dollar
a year ago
We have a bullish trend line on the 4 hour gold             chart with 5 solid touch points.

The black arrows on the chart and the RSI indicate the bearish divergence. The first one occurred in the overbought range, however my only issue with this is that the current divergence is not all above the overbought range.

However, I still like this because, despite being weak bearish divergence, it is coupled with the fact that there is a trend line and a real possibility of a 6th touch point.

Risk/reward of just under 2:1.
a year ago
Trade closed: target reached: Closed this trade at 1247.89 as it meets the trend line that is drawn touching the closes. (Shift the trend line up until it touches all the market closes, and that is where I closed at a profit.)
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out