Despite Gold's recent and continuous downfall, there is a unique technical occurrence that I spotted and have to bring forward for short-term consideration.
As you see on the chart, since November 24, 2020, every time XAUUSD's price is on Lower Highs (red), while the RSI is on Higher Lows (green), i.e. a Bullish Divergence, the price makes a bottom and rebounds.
Since January 15, 2021 in particular, that rebound (after the RSI's Bullish Divergence) has always topped above the 4H MA50 (blue trend-line) on what is a Lower Highs Zone (red zone).
This is on a short-term horizon, for your consideration only. Do not lose track of the bigger time-frames as shown below:
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As you see on the chart, since November 24, 2020, every time XAUUSD's price is on Lower Highs (red), while the RSI is on Higher Lows (green), i.e. a Bullish Divergence, the price makes a bottom and rebounds.
Since January 15, 2021 in particular, that rebound (after the RSI's Bullish Divergence) has always topped above the 4H MA50 (blue trend-line) on what is a Lower Highs Zone (red zone).
This is on a short-term horizon, for your consideration only. Do not lose track of the bigger time-frames as shown below:
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Crybster
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.