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Bearish Divergence explained This is an educational post on OANDA:XAUUSD Look how we can view divergences and predict movements on the underlying. Various peeks and troughs are marked in yellow on the indicators RSI and MFI and the price acton not the chart for Gold In the time frame shown in the chart, you can see a bullish divergence where we see the last yellow circle somewhere in June/July 2019, a new high made on RSI didn't have price action making a new high, which is then followed by a rise in price over the next few sessions. Secondly, after the quick heavy run up, RSI falls sharply indicating the move from overbought position in a downward slop, marked in red, and price actions moves upwards, showcasing a bearish divergence. This is followed by a fall in price over the last few sessions for the recent highs. I have taken the 50 day MA as the replica for the trend line and currently Gold is sitting right below the MA. It will find resistance at the MA, Watch out this space for more on when the next opportunity presents If you like it, please share a thumbs up! Cheers
OANDA:XAUUSDEducation
by LoveForCharts
1
USDCAD shortUSDCAD is currently pushing price up to form an M reversal pattern near my zone. The first leg has already formed in 1HR and now the second leg of the pattern is forming. (Double top). - price is also respecting the 50ema dynamic support in the 1HR time frame How I will be entering: - I will be waiting for this current bullish candle to close and possible wick out or price to get near the first leg. - I will wait for a nice bodied bear candle upon which I will enter.
Education
by MustafaMuhammad
XAUUSD longInital consensus as posted earlier was XAUUSD will retest and price will fall short, however price did not follow my entry requirements so I did not enter the short position. Now price has broken the previous resistance zone and is consolidating sideways above it. How I will be entering: - I will be waiting for a candlestick that wicks down to the current zone that it just broke which will indicate a retest and rejection of that zone. - I will then wait for a nice bodied bullish candle to confirm the upwards move and will enter at the close of that candle.
FX:XAUUSDEducation
by MustafaMuhammad
XAUUSD WYCKOFF DISTRIBUTION EXAMPLEHello traders, we would like to share some value knowledge, about structure based mostly on Wyckoff schematics. As an example u have marked up area identify by us as Wyckoff distribution schematic to help u get deeper understanding about markets and printed structure itself. Please, scroll left and right chart to see multiple examples of accumulation and distribution schematics. Hopefully this will help u get some breakthrough in your trading journey. God bless u all.
FOREXCOM:XAUUSDEducation
by Snipers-Academy
2