Gold Spot / U.S. DollarUpdated Gold - XauUsd
high % Correction down -> more up & depending on success with fed QT, Trump tax plan etc we may see a huge move late 2017/early 2018 and forth. The priceaction which followed the breakout of the 7y resistance line was indicating a start of something big in the precious metals...
Look at closer time intervalls to time in a buy or short at 1295-1300 depending on breakout or not.
We have already a strong buy signal from 1260's but it is to be expected that the long support is hit on a higher timeframe
Look at closer time intervalls to time in a buy or short at 1295-1300 depending on breakout or not.
We have already a strong buy signal from 1260's but it is to be expected that the long support is hit on a higher timeframe
Note
If you bought 1260 long then i would say u will be fine on the way up but there should come another correction down to form a really strong picture for a big move up.The market reversed at 1260 but another correction back to 1260ish would be great for a clear indicator concensus on multiple timeframes .)
Note
2x RSI 21 + 1x MACD divergence on 1h timeframeinteresting to see what price will do now around 1290-1300
Note
3x div Macd + 2x div RSI 21Note
correction + more up?1h timeframe:
3x macd div 0.31%
2x rsi div 0.31%
4h timeframe:
stoc --> down
daily timeframe:
stoc -> up
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.