XAU USD SHORT setup
Updated
In this chart we see a reversal rising wedge after a nice uptrend and pump also they need a retracement becouse:
-Stoch 1D is hardly overbought and also there we have a confirmed bearish divergence
-RSI 61.27 is bullish but near overbought zone
-Macd still positive near overbought zone also
-Volume still going down which is a bearish sign
-This rising wedge also is a bearish pattern.
1D supports is:
-1215$
-1194$
-1189$
-1181$
-Stoch 1D is hardly overbought and also there we have a confirmed bearish divergence
-RSI 61.27 is bullish but near overbought zone
-Macd still positive near overbought zone also
-Volume still going down which is a bearish sign
-This rising wedge also is a bearish pattern.
1D supports is:
-1215$
-1194$
-1189$
-1181$
Note
XAUUSD also is situated in TOP of BB so the price will go down,another confirmation :)
Like/comments are welcomed!
Trade active
STOPLOSS 1265Note
First target hittedTrade active
Still going to second target.Support was broken
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