Overview
XAUUSD was in a bullish trend, however, bearish RSI divergence was formed on the last 2 higher highs and price has since formed a lower low on the 4 hour chart!Analysis & Plan
For this strategy, we will be taking into account all mandatory bullish and bearish factors to enter the trade! Since price has already formed a lower low, we are expecting price to break this lower low and continue the bearish trend! Current price is ranging in a bearish rectangle, which is a bearish continuation pattern as well! All factors considered for this trade are displayed on the chart!
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.