kylesutherlandsmith45

Bat pattern on gold in USD?

Long
FXOPEN:XAUUSD   Gold Spot / U.S. Dollar
What is going on with USD vs Gold? There is divergence with price trending up while RSI trends down. My trade is to play the long game. If this pattern begins to show signs of being confirmed I recommend buying when it reaches the bottom of the next triangle on the xabcd pattern. This in effect means going short. Short means don't buy until it starts to go back up and bottoms out. It could be that the On Balance volume breaks out of the expanding wedge pattern. This would be extremely bullish in which case the other patterns would be negated. This divergence must resolve eventually.

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