There is a MACD divergence in the dailies. The weekly divergence is not so strong but good enough for a trade. The slow adjusted slow stochastics in both the time frames is at the top of the range.
Current spot is 9.0922.
Leave an order to sell USD at 9. 1010 (38.2 % retracement of the recent down move from 9.1822 with a stop loss at 9.1360.
Good Luck.
The falling wedge is about to break out.
The divergence in the dailies is quite clear both MACD and Histogram which Alexander Elder says is powerful.
The weeklies have a divergence in the H but not in the MACD itself.
So, it is a tradable long.
Going long at US open tonight 11 Sep 2019 with a stop below the gap at 55.60 area - to be specific atop at 55..
The 10...
Play the correction in XAU from the short side.
1. MACD divergence conforms to Elder's "breaking the back of the bull / bear (Trading For a Living ). Also both the MACD and the histogram confirms the divergence. Ideally I would have preferred a lower high on the MACD itself but this is good enough.
2. The ADX is declining which means this drop is a...
