Details are in the chart.
After an impulsive phase, gold has been consolidating within a triangle pattern in the last 2-3 months. A break out could be possible in the near term.
For more info about triangle pattern and Elliott wave, check out this link
Stay tuned !
Bearish divergence possibly indicates signs of weakness in the market trend and that a reversal may occur from uptrend to downtrend.
It is formed when price forms a higher high and your chosen indicator forms a lower high.
In the daily chart above we can see Gold against the U.S dollar sell off after bearish divergence formed with the MACD and RSI.
Brett Steenbarger “Routine is necessary for efficiency; breaking routine is necessary for adaptation.”
Trading/Investing books that I highly recommend. Some of them are listed below;
1. Brett Steenbarger's books
2 . Van Tharp's books
3. Pit bull
4. Millionaire Traders
5. Think and Grow rich
6. Trade mindfully
Forex Trading Admin Board
Over the past 18 years of trading the markets I have always had an admin white board next to my main desktop computer. This has kept me disciplined and methodical in my trading approach. I am very regimented and disciplined and I try as hard possible to limit the amount of errors in my trading....
Basic Technical Analysis
Interpreting the candlestick
This type of chart is an extension of the bar chart and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can be seen that the...
the Good Using Of Price Channel is Most Important to define a Target and reversal Zone
So To Calculate a Distance Between the last rebound and using the same distance to define next Rebound and we can make it easy when we mix it with Rand S Level
You can Inbox me for More Info about this strategy or Others
Gold is by far one the instruments that you can trade easier and effectively with just about any good strategy. Mostly supply and demand or Volume analysis Trading and that my opinion. Gold always gives clear insight on price action which makes it easier for every analyst or novice trader. On the Chart I will be explaining the Supply & Demand strategy. First you...
Learn with the Lex van Dam Trading Academy on TradingView! www.tradingview.com
Featured in our Trading Club, 4th July
Our checklist provides a systematic process that fellow hedge fund managers and traders employ to analyse markets, from which the biggest trading decisions are made. We use similar versions to analyse major currencies, stock markets...