XAUUSD 1H short
Updated
There is a strong bearish divergence of price and momentum (see the red line behind the candles: this is my jeddingen divergence indicator that spots those divergences).
And there is also a divergence of price vs. RSI - price is rising while RSI was overbought and is falling now.
Price could fall to the weekly pivot but to be safe, the profit target should be at the support level at 1270.20
And there is also a divergence of price vs. RSI - price is rising while RSI was overbought and is falling now.
Price could fall to the weekly pivot but to be safe, the profit target should be at the support level at 1270.20
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Price went into the wrong direction, but a second bullish divergence formed and RSI is still falling, so I'll stay in the trade:
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