New high in price with no high momentum.
Looks promising. Let's hope for a best!
We could see H&S on 30m Gold chart with broken neckline downside. Let's hope for a best!
We have just seen as MAs (77&200) has crossed on Weekly (!) chart. You could remember what Gold falling has started after MAs (44&77) had crossed on Daily. However... 200SMA & Weekly make much more solid sign. So the sign is very important in our understanding of a market. That's why I still do keep a short side. Let's migrate into 4h chart now. And again......
Looks like price is staying above of a middle of a channel. So... a move upside... is possible.
It's not perfect H&S - not very nice angle, not excellent base line touching... however I would prefer to make a try.
I'd prefer to Buy it now rather than to Sell it.
Divergence is my favorite indicator. However... no one knows what market does next. So.. Risk management is mandatory .
I have entered short trade in it. There are also few more sygnals here besides of divergence: 1. Crocodile is opening. 2. HMA has crossed on 1h. 3. Momentum is below of MA.
I suppose that crossed MAs is one of the strongest signal we could ever see if we are talking about trends. Let's look if we could see a breakthrough of a channel upside.
Risk management is mandatory . SL has to be very tight.
I believe that any side trading in Silver being very dangerous now.
I do hope so!
I would prefer to short a pair only after 44&77SMAs will crossed on Daily chart.
If you look on my last EURNZD 0.17% forecast you can see a huge Daily channel which was broken upside. Moreover the channel was retested and price is on the top of it now. In my opinion it is excellent time to enter a pair's longs.
While price stays above of H&S neckline long is reasonable in my opinion.
Let's do hope for a best!
Let's do hope for a best!