Gold - What is a RSI bamm? How to trade it?
Hey guys, after an uneventful 2 weeks, I am hoping next week the market sets us up with some quality harmonic patterns.
The top of my list for next week is gold, where I see a bullish bat completing with a few other key criteria.
1. RSI Bamm present, W structure at oversold, retest the 50 lvl and now back at oversold
2. Bullish bat completes at channel extreme
I will monitor the H1 chart for a double bottom/ rsi divergence before I go long on it.
I seldom trade Gold, but when I see a good setup I will take it.
Do not use a pending order, wait for the clues I shared above and enter with precision.
Good luck and good trading guys!
Will be glad to explain anything.
The top of my list for next week is gold, where I see a bullish bat completing with a few other key criteria.
1. RSI Bamm present, W structure at oversold, retest the 50 lvl and now back at oversold
2. Bullish bat completes at channel extreme
I will monitor the H1 chart for a double bottom/ rsi divergence before I go long on it.
I seldom trade Gold, but when I see a good setup I will take it.
Do not use a pending order, wait for the clues I shared above and enter with precision.
Good luck and good trading guys!
Will be glad to explain anything.
Kommentar:
Price bashed through the PRZ on the 2nd retest, only go long if it goes above 1220. Likely heading further down.
Kommentar:
This is the setup which must complete before I will go long.
I need it to form a inverted head and shoulders pattern and I will buy at the right shoulder.
If this does not happen, Gold will simply fall much further.
I need it to form a inverted head and shoulders pattern and I will buy at the right shoulder.
If this does not happen, Gold will simply fall much further.
My gameplan:
Wait for the
1.RSI to get out from oversold
2. Price to retest PRZ
3. Wait for candlestick reversal at PRZ
4. Check for RSI divergence in H1
5. Enter