A Longer Term analysis on XAUUSD pairs - Ranging period
Current STochRSI reading on different TF:
Weekly:( 93.74, 82.06) - overbought here
Daily ( 53.69, 53.50) - no direction are indicating
current 4hr ( 88.35, 92.56) - overbought at 15:00
current 1hr (2.18, 8.14) - oversold at 15:02
As we can see there is not much confluence in between one Timeframe to another. .
On 16 Feb 2017, 1217 support low retest, as for resistance, yesterday high was 1242.18, did't break the previous high 1244.56.
If currently have no open position. My strategy is either:
Re-Buy at 1219 if support found - Target 1244, 1253,1270
Alternatively, Re-sell betwen 1950-1941 - Target 1210
Weekly:( 93.74, 82.06) - overbought here
Daily ( 53.69, 53.50) - no direction are indicating
current 4hr ( 88.35, 92.56) - overbought at 15:00
current 1hr (2.18, 8.14) - oversold at 15:02
As we can see there is not much confluence in between one Timeframe to another. .
On 16 Feb 2017, 1217 support low retest, as for resistance, yesterday high was 1242.18, did't break the previous high 1244.56.
If currently have no open position. My strategy is either:
Re-Buy at 1219 if support found - Target 1244, 1253,1270
Alternatively, Re-sell betwen 1950-1941 - Target 1210