Hi all, I've just gotten back from my extended vacation. The precious metal is range bound and looks like it wants to move down before completing a move up to tag the upper Bollinger Band. The weakness is appearing in the haDelta indicator at the bottom of the chart. A magenta dot just printed which means that the smoothed delta SMA is crossing over the non-smoothed delta. And since this is the second magenta dot in the latest upswing, it does suggest the price will either consolidate or move down.
The Heikin Ashi chart below is also showing a slowing of the uptrend. Let's see if we get some clarity over the next few days.
In case you're wondering about the new yellow Bollinger Band, I was watching a video that John Bollinger had posted on YouTube and it that video he mentioned that one should try using Bollinger Bands of different periods. So I've added a new Bollinger Band (the yellow one) and set the period to 50. This creates some interesting technical levels with the 21 and 50 BBs crossing and interacting with each other.
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Disclaimer: This post is for educational purposes only. Trading is at your own risk.
The Heikin Ashi chart below is also showing a slowing of the uptrend. Let's see if we get some clarity over the next few days.
In case you're wondering about the new yellow Bollinger Band, I was watching a video that John Bollinger had posted on YouTube and it that video he mentioned that one should try using Bollinger Bands of different periods. So I've added a new Bollinger Band (the yellow one) and set the period to 50. This creates some interesting technical levels with the 21 and 50 BBs crossing and interacting with each other.
If you like this post, please click the Like button, tell your friends, and re-Tweet!
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
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