Today Gold is on a strong rebound as it held the 1675.50 Support made from the March 08 Low. But the reason for this short post is to bring forward the counter signal that the MA50/ 100 Cross give on the 4H time-frame.
As you see on the chart since January 14 the MA50 (blue trend-line) and the MA100 (green trend-line) on the 4H time-frame have crossed paths 4 times:
* On Jan 14 we had a Death Cross, which is theoretically bearish but 6 days later the price ended higher instead making a Higher High. * On Jan 24 we had a Golden Cross, which is theoretically bullish but 6 days later the price ended lower instead making a Lower Low. * On March 19 we had a Golden Cross, but again 11 days later the price ended lower instead making a Lower Low. * Today (March 31) we had a Death Cross, but again the price is on a strong rise. Will that make a Higher High and if so will it be below the 1755.50 Resistance?
Feel free to share your work and let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
Trust me! I have more experience than all of you combined, do not meddle in XAUUSD at 1707.35000 in buy!
TradingShot
⋅
@DeGRAM, This is the FIRST TIME I see a Tradingview author PRAISE AND TALK SO HIGHLY OF THEMSELVES instead of letting the public do the compliments, while at the same time DEGRADING THEIR FELLOW AUTHORS. This is not worthy of Tradingview 's wonderful community.
Lingrid
⋅
I recommend entering by XAUUSD with the opening price 1707.35000 in the buy direction.
altaeco
⋅
Signals not behaving like they should multiple times, economic factors not effecting price like they should. Manipulation seem to be a real possibility. Controlling/suppressing the price.
CraezyPie
⋅
great job!
financialflagship
⋅
Gold has great potential for a bullish move. Thanks for the heads-up! 🙌
marcusdw1
⋅
Lagging indicators are unreliable in choppy markets. Probably better resolved on higher time frames.