Gold has been consolidating in a descending triangle this week after it found resistance at about 1322. Note the bullish bias in the 1H chart. 1) Price was bullish at the end of last week, so the prevailing trend in the 1H chart is bullish before it consolidated this week. 2) Price is for the most part trying to stay above the 200-, 100-, and 50-hour simple moving averages, which would reflect a bullish market. 3) Price broke above the descending triangle resistance today. ...
Originally Posted by matfx Svetlana Valueva Painting
How to Choose a Forex Broker Are you ready to open a live account and trade real money with a forex broker? Take a look at these factors you should consider in choosing a forex broker. The forex industry is a fast-growing one and there’s an overwhelming amount of brokers that are already in business or are setting up shop. The sad truth is that not all of these forex brokers are doing honest business, as some may be “bucket shops” or scammers that are out to take your ...
Litecoin Awaiting Breakout from Near-term Consolidation By Forexminute - Fan Yang | Litecoin | Aug 14, 2014 2:37AM BST Litecoin opened up a bearish outlook toward the 2014-low of 2.21 when it broke below a support pivot at 6.66. Since then, price has been “chewing” down the tail from the July 1st spike down. The trend looks bearish in ...
Gold (XAU/USD) Wedge Breakout: After breaking above a falling wedge pattern seen in the 4H chart, gold (XAU/USD) stalled at 1323, and has been trading in a triangle consolidation. The wedge breakout was a bullish signal. The rally pushed gold (XAU/USD) above the cluster of 200-, 100-, and 50-period Simple Moving Averages (SMAs). The 4H RSI was pushed up above 70. Now if price can hold above the SMAs, the wedge*breakout is still valid, and if the 4H RSI holds above 40, there is maintenance ...
Recent Visitors
Archive
Go to Profile
Mark as Read