i call it the cross formation that you can see on the chart it has a very high probability since it forms in a trending market so i expect the price keep changing trend to upside and downside until we get to range and correction conditions
this is the process how i find my trades coming down from monthly and mostly break out trades the last few trades didnt go so well due to so many news and gaps in the market but this month we will recover and get back on track. when you want to find MACD breakouts the reference points should be the last divergence that reversed the market the soul strategy comes...
On the four hour timeframe, the rising wave 1 (A) and the correctional wave 2 (B) are formed. In the structure of wave A, the formation of a high potential turning point with its working off is noticeable. Places a pending buy order in the calculation of wave 2 (C).
anticipating a fall it will be a good one! The trades i post are the ones i personally take if you follow me long term we will always be in profit as the RR ratio of my trades are set to be in profit even with 31% win ratio, as ive said in my previous posts please do take partial profit at 40 50 pips and lower your stop loss or set SL to break even.
from 1 to 2 divergence from 2 to 3 no divergence showing weakness in the trend + when markets are slow like this week because of asian session investors turn to gold as their safe heaven so we will see more volatility on gold this week