Potential emerging deep crab pattern setting up on the chart. Hidden bullish divergence can be spotted with the RSI. On the shorter timeframes, the RSI is showing regular bullish divergences.
We have some demand coming in around 1670, which is a 88.6% ret. of last week candle, and 127.2% ext. of yesterdays candle. Support is located at 1660. Below this level the deep crab pattern is invalidated.
Good luck to all trading gold !!
We have some demand coming in around 1670, which is a 88.6% ret. of last week candle, and 127.2% ext. of yesterdays candle. Support is located at 1660. Below this level the deep crab pattern is invalidated.
Good luck to all trading gold !!
Note
Gartley 886 appearing on the 4h timeframe:Note
Here is the complete chart. I have highlighted regular and hidden bullish divergences on the RSI. The yellow rectangle illustrates the support coming from the ab=cd and a 88.6% XA ret. Confluence can be seen with the 161.8% BC ext within the pattern.
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.
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.