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Apr 12, 2021 10:16 PM

XAUUSD Fakeout 

GoldOANDA

Description

Possible fakeout of TL on D TF:

Bearish divergence on MACD as well as RSI indicating a continuation of trend, no signal of crossing on either when breakout occured.
ATR of 24 at point of breakout (25< is considered consolidating) which has decreased since.

SMA/EMA still show a downward trend with 4H having just crossed down.

Possibility that we are ranging at the moment, creating a bearish rectangle.

Break of 1760 and bull
Break of 1677 and bear
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