XAUUSD | Bearish Divergence
Currently, XAUUSD (Gold) is in an uptrend, making new higher highs and higher lows, and moving within a parallel channel supported by its trendline. Additionally, fundamental factors are pushing gold to make new higher highs.
However, on the 1-hour time frame, there is a hidden bearish divergence, indicating a potential trend change to a downtrend. This suggests that soon, new lower highs (LH) and lower lows (LL) may form, and we can expect the price to test the trendline.
In summary:
Uptrend: Gold is making higher highs and higher lows and moving within a parallel channel supported by a trendline.
Fundamentals: Supporting the uptrend and pushing gold to new highs.
Hidden Bearish Divergence: On the 1-hour time frame, indicating a potential trend change to a downtrend.
Expectation: Potential formation of lower highs and lower lows, with the price possibly testing the trendline.
These signals suggest that while gold is currently in an uptrend, there are signs of a possible reversal. It is important to monitor these indicators and conduct further analysis before making trading decisions.
However, on the 1-hour time frame, there is a hidden bearish divergence, indicating a potential trend change to a downtrend. This suggests that soon, new lower highs (LH) and lower lows (LL) may form, and we can expect the price to test the trendline.
In summary:
Uptrend: Gold is making higher highs and higher lows and moving within a parallel channel supported by a trendline.
Fundamentals: Supporting the uptrend and pushing gold to new highs.
Hidden Bearish Divergence: On the 1-hour time frame, indicating a potential trend change to a downtrend.
Expectation: Potential formation of lower highs and lower lows, with the price possibly testing the trendline.
These signals suggest that while gold is currently in an uptrend, there are signs of a possible reversal. It is important to monitor these indicators and conduct further analysis before making trading decisions.
Trade active
Trade closed: target reached
Running in good profits almost 80+ Pips Book Some Partial HereNote
TP 1: Hit :-)Trade closed: target reached
TP 2: Hit :-)Trade closed: target reached
TP 3: Hit :-)Full Trade Close All TP's Hit
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.