DLavrov
Short

Bearish Divergence - Gold Short

FX:XAUUSD   Gold / U.S. Dollar
425 4 16
Daily chart , price is near up Bollinger Band . It looks like that we'll have reversal and correction to Moving Averages 20 at least. Why not to try get this movement? Based on 4H chart we have a signal for short trade. Bearish Divergence is formed by MACD and RSI . ADX starts falling and it's a confirmation that the up movement is not so strong now. Open short trade below 1363.10 with stop order above 1375.25 and profit targets near Moving Averages with periods 50 and 100.
Trade closed: target reached
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isn't that a 5 wave count completion?
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Yes, it can be 5th wave. But I don't use waves in trading and prefer to work with indicators, candlestick patterns and levels.
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very accurate on ur chart, thumb up
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Thanks )
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