Gold is trading inside a short term Channel Up on the 4H time frame and today made a Higher High.
This is a technical sell signal, considering also the fact that Resistance (1) from the October 27th High is just over it at 2009.55.
Trading Plan:
1. Sell on the current market price.
2. Sell again if it closes a (4h) candle under the MA50 (4h).
Targets:
1. 1983 (Fibonacci 0.618, where prior Higher Lows have been priced).
2. 1960 (MA200 4h).
Tips:
1. The RSI (4h) is trading inside a Channel Down. That is a Bearish Divergence since the price is on a Channel Up, similar to the Bearish Divergence of late October. This is an additional sell signal.
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Notes:
Past trading plan:
This is a technical sell signal, considering also the fact that Resistance (1) from the October 27th High is just over it at 2009.55.
Trading Plan:
1. Sell on the current market price.
2. Sell again if it closes a (4h) candle under the MA50 (4h).
Targets:
1. 1983 (Fibonacci 0.618, where prior Higher Lows have been priced).
2. 1960 (MA200 4h).
Tips:
1. The RSI (4h) is trading inside a Channel Down. That is a Bearish Divergence since the price is on a Channel Up, similar to the Bearish Divergence of late October. This is an additional sell signal.
Please like, follow and comment!!
Notes:
Past trading plan:
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