XAUUSD | Bearish Divergence
Updated
Currently, XAUUSD (Gold) is in an uptrend, making new higher highs and higher lows, and moving within a parallel channel supported by its trendline. Additionally, fundamental factors are pushing gold to make new higher highs.
However, on the 1-hour time frame, there is a hidden bearish divergence, indicating a potential trend change to a downtrend. This suggests that soon, new lower highs (LH) and lower lows (LL) may form, and we can expect the price to test the trendline.
In summary:
Uptrend: Gold is making higher highs and higher lows and moving within a parallel channel supported by a trendline.
Fundamentals: Supporting the uptrend and pushing gold to new highs.
Hidden Bearish Divergence: On the 1-hour time frame, indicating a potential trend change to a downtrend.
Expectation: Potential formation of lower highs and lower lows, with the price possibly testing the trendline.
These signals suggest that while gold is currently in an uptrend, there are signs of a possible reversal. It is important to monitor these indicators and conduct further analysis before making trading decisions.
However, on the 1-hour time frame, there is a hidden bearish divergence, indicating a potential trend change to a downtrend. This suggests that soon, new lower highs (LH) and lower lows (LL) may form, and we can expect the price to test the trendline.
In summary:
Uptrend: Gold is making higher highs and higher lows and moving within a parallel channel supported by a trendline.
Fundamentals: Supporting the uptrend and pushing gold to new highs.
Hidden Bearish Divergence: On the 1-hour time frame, indicating a potential trend change to a downtrend.
Expectation: Potential formation of lower highs and lower lows, with the price possibly testing the trendline.
These signals suggest that while gold is currently in an uptrend, there are signs of a possible reversal. It is important to monitor these indicators and conduct further analysis before making trading decisions.
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Trade closed: target reached
Running in good profits almost 80+ Pips Book Some Partial HereComment
TP 1: Hit :-)Trade closed: target reached
TP 2: Hit :-)Trade closed: target reached
TP 3: Hit :-)Full Trade Close All TP's Hit
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