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- #432
- Edited 8:25am Sep 8, 2021 8:13am | Edited 8:25am
- Joined Aug 2011 | Status: Trader | 4,928 Posts
Observation is the path to discovery.
- #434
- Sep 8, 2021 8:25am Sep 8, 2021 8:25am
Hi,
There has been a significant MACD Divergence in H4 Timeframe for a long time.
So, I think, Price really needs to see lower levels in order to breathe. But for sure, after yesterday's drop, there are some investors, who are saying "ohh, gold is really cheap...i shud buy some Gold"... You know, it is very common in the market that sharp drops/rallies are followed by same sharp rallies/drops.
To sum up, there are two options (which is not a Rocket Science):
1- The price might be creating a Base before going up (Today's possible max target is: 1813)
2- Just like some guys posted here, price is creating a Flag, which is a continuation pattern and which is also supported by the MACD Divergence
I personally am on the side of BUYERS at the moment and I am gonna SELL in case price drops below 1792,26
Best Regards
There has been a significant MACD Divergence in H4 Timeframe for a long time.
So, I think, Price really needs to see lower levels in order to breathe. But for sure, after yesterday's drop, there are some investors, who are saying "ohh, gold is really cheap...i shud buy some Gold"... You know, it is very common in the market that sharp drops/rallies are followed by same sharp rallies/drops.
To sum up, there are two options (which is not a Rocket Science):
1- The price might be creating a Base before going up (Today's possible max target is: 1813)
2- Just like some guys posted here, price is creating a Flag, which is a continuation pattern and which is also supported by the MACD Divergence
I personally am on the side of BUYERS at the moment and I am gonna SELL in case price drops below 1792,26
Best Regards
Imagination rules the world ...
Selym Hyll Return This Year:
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