GOLD:Retracement on Area 1760.00 Divergence RSI+STOCH SELL Setup
GOLD: Yesterday the price after touching the vale 1765.00 had a rejection on this level, looking at the H4 timeframe we can see a strong bearish candle, and today, The price opened the day a red candle that is struggling on the Area 1760.00
The price below the 20 Moving average in the Daily timeframe lets us see a bearish scenario, the stochastic seems ready to drop to the bearish side meanwhile the RSI continues to stay in the selling area. In Both these indicators, there is a Divergence and we placed an ideal entry at the 1760 level with the Stop loss upper the last swing of price and the take profit on the last swing low and over.
The price below the 20 Moving average in the Daily timeframe lets us see a bearish scenario, the stochastic seems ready to drop to the bearish side meanwhile the RSI continues to stay in the selling area. In Both these indicators, there is a Divergence and we placed an ideal entry at the 1760 level with the Stop loss upper the last swing of price and the take profit on the last swing low and over.
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