Reversal pattern - possible buy scenario on GOLD
There is a falling wedge created on 1H TF, with an RSI divergence on 4H TF. These are buying signals together with the following:
Indicators used:
- Renko 1H TF
- OBV 1HTF
- MA 9 and 24 1H TF
- ATR 4H TF
- RSI 4H and 1H TF
- Cumulative Delta 1H TF
- Fib extension 4H TF
Entry Signals:
1. and 2. Divergence created on RSI at 1.272 and 1.618
3. OBV moving up
Waiting for extra confirmation:
4. Price breaks 1650 level on Renko OR,
Entry:
5. After a break of 1650 level and a possible retest of it.
6. More aggressive entry, on MA crossover
Exit:
SL size - 2 times ATR 4H
TP size - 3 times RR
Don't stumble trading. Trade Safe!
Indicators used:
- Renko 1H TF
- OBV 1HTF
- MA 9 and 24 1H TF
- ATR 4H TF
- RSI 4H and 1H TF
- Cumulative Delta 1H TF
- Fib extension 4H TF
Entry Signals:
1. and 2. Divergence created on RSI at 1.272 and 1.618
3. OBV moving up
Waiting for extra confirmation:
4. Price breaks 1650 level on Renko OR,
Entry:
5. After a break of 1650 level and a possible retest of it.
6. More aggressive entry, on MA crossover
Exit:
SL size - 2 times ATR 4H
TP size - 3 times RR
Don't stumble trading. Trade Safe!
Trade active:
Also moved on BE
Comment:
Entry was triggered on MA crossover
Trade active:
Second trade triggered for the ones who missed first entry
Trade closed: target reached