Gold: Pullback after Short-Term Consolidation
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Divergence on PMO (DecisionPoint Price Momentum Oscillator) and Bearish ABCD were a good signal of Gold retracement. I think that this phase is coming to an end with the formation of a Bullish ABCD (even if bear power still resists in the main trend and AB is not perfectly equal to CD, but still respects the theory).
I'm waiting for the breakout of 20 and 50 EMA (current price is trading below the two EMA) and the exit from the consolidation phase (resistance at $1562.89).
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If you have another trading plan, please share in comments!
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
Divergence on PMO (DecisionPoint Price Momentum Oscillator) and Bearish ABCD were a good signal of Gold retracement. I think that this phase is coming to an end with the formation of a Bullish ABCD (even if bear power still resists in the main trend and AB is not perfectly equal to CD, but still respects the theory).
I'm waiting for the breakout of 20 and 50 EMA (current price is trading below the two EMA) and the exit from the consolidation phase (resistance at $1562.89).
Don't forget to follow me here on TradingView 😃
If you have another trading plan, please share in comments!
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
