XAUUSD 1H Trendlines & RSI - Same trade again
Updated
Same setup as the last trade. Still bearish. Notes from last trade: At a Monthly and Weekly chart trendline underside and most RSI indicators turning bearish . This can sometimes simply be consolidation, but weight of the various indicators for me has the gold bull run turning bearish for the moment. Potential to drop to the Weekly 50MA below 1850 before it has another big decision to make. Taking trade just to 1904. Trade set for the green line, with adds at orange and red lines.
Trade active
Note
As an additional note, it has rejected up off long bull trend, but remains underneath 4h RSI trend, so we may see another reject upwards before we reach the target, but will watch for a potential manual close if needed.Trade closed: stop reached
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