XAUUSD Short
Since breaking above $1400 it has been consolidating into a wedge. As we all know, wedges have a tendency to break one way or the other and it's anyone's guess which way it breaks. However, as I've highlighted below, we have MASSIVE bearish divergence on the RSI as well. This is primed to break downwards and it will be swift. I''ll be adding to my short positions on any rise.
Trade active
Look to add more shorts on a retrace.Trade active
A break below 1480 will take us to 1462. Below that I'll update based on price action.Trade active
We had another opportunity to add short positions at 1524 today.Trade active
Looks like we are heading to the $1420 region.
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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.