Gold Sell Signal Priming & RSI Divergence

Aug 17, 2021

Good day guys! Gold has always been good to us. The relative strength index indicator is showing that price action is well over extended and bearish divergence is reflecting within the indicator. We do not trade the RSI alone. We use range of confirmations to put us on the right side of trades. Price action is approaching the previous support level and it is setting up for a phenomenal opportunity to treat that level as the new resistance. If price respects the previous support as resistance, you can see how this could cause price action to go higher, which I would like to see another LOWER High form within the RSI. This would mean that the gold sell signal is primed and ready. However, even though I do teach my students to understand price action down to the smallest detail, I am not a predictor of the market. I simply react when we trade live. Well we appreciate you for checking out our post and remember, we will see you on the other side.

Rodrick Goss (CEO)
Third Eye Traders