Reading is must:
Interesting, there is a bearish divergence according to the daily chart. seems gold will go down? Answer is up to you but let me show you something.
Look at the letters of A, B, C & D with color boxes. if you closely see the candles in each box shows you a shooting star candle with a bearish candle which is direct you to a certain period or pips bearish movement. but each and every time its bounce back to bullish movement.
if you see the RSI and you can see that RED circles with black color arrows shows you the direction. look at the number 2 circle shows you a pattern it was came from black line and then towards to RSI 50 red line then again back to black line and bounced back. that same pattern is creating from the blue circle. it means it will come down for certain period or pips down and will bounce back and create a new bullish momentum. you can see the number 1 area in red circle which is created a new bullish momentum.
TP areas in Green
Note: Trade at your own risk and hope this will works. fingers crossed. Hope this will works better if oil will goes high
Open for discussion and suggestions are most welcome.
Join us with (Telegram) - @theturningpoint
Interesting, there is a bearish divergence according to the daily chart. seems gold will go down? Answer is up to you but let me show you something.
Look at the letters of A, B, C & D with color boxes. if you closely see the candles in each box shows you a shooting star candle with a bearish candle which is direct you to a certain period or pips bearish movement. but each and every time its bounce back to bullish movement.
if you see the RSI and you can see that RED circles with black color arrows shows you the direction. look at the number 2 circle shows you a pattern it was came from black line and then towards to RSI 50 red line then again back to black line and bounced back. that same pattern is creating from the blue circle. it means it will come down for certain period or pips down and will bounce back and create a new bullish momentum. you can see the number 1 area in red circle which is created a new bullish momentum.
TP areas in Green
Note: Trade at your own risk and hope this will works. fingers crossed. Hope this will works better if oil will goes high
Open for discussion and suggestions are most welcome.
Join us with (Telegram) - @theturningpoint