Will Gold continue the uptrend up pull back?
XAUUSD Gold has been on a beautiful bull run and the questions is when will she run out of gas? After breaking above the previous highs at the 2590.12 area, we witnessed another impulsive move. Now, price is consolidating on the 15 min with bearish divergence printing on a few different time frames. The momentum is still bullish while price action and the indicators are showing signs of a reversal. Let's stay sharp.
If the highs are broken I'm waiting on a few solid closes above the highs on the 1 hour time frame before looking for an entry. I'll use that approach to avoid being a victim of a false breakout.
Be great, Trade Safe,
You're One Trade Away From Living!
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.