Gold Futures Showing signs of Possible Bearish Divergence
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Looking at the continuous gold futures chart, there is some clear bearish divergence happening between the price making new highs and the RSI simultaneously making new lows. I am not trading gold, but this is a good opportunity to see how the price reacts when it reaches the upper resistance (if it makes it that far). In my opinion the divergence is a sign that bullish steam is running out, but I have been wrong before.
Lets see how this one reacts in the coming days/weeks. Could be a short opportunity here. If it breaks out this Idea will be void.
Everything here is purely my opinion, and in no way advice or recommendations on making trades. I may or may not hold positions in the instruments I analyze.
L.R.
Lets see how this one reacts in the coming days/weeks. Could be a short opportunity here. If it breaks out this Idea will be void.
Everything here is purely my opinion, and in no way advice or recommendations on making trades. I may or may not hold positions in the instruments I analyze.
L.R.
Dagangan ditutup: sasaran tercapai
bearish divergence strategy worked well, price took a hit. if I were trading this i would close the trade. I am not trading this but good to see how the idea materialized.
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