In this idea im showing you why golds consoloidation according to my experience with signals has a higher chance of breaking to the upside, i will make a another idea where i will take a look at the 4 hour which is also important.
(As i am typing this gold is tryingt o push through some Resistance but i will talk about this in the other idea)
There are 2 signals:
Stochastic
RSI Channel
Stochastic is simple, its breaking the overhead resistance and could indicate strength.
the RSI channel is a little more interesting, it has 3 contact points and today closed above it. I think this is really good because it fits the whole checklist of an rsi channel. It could easily come back down to test the support of the channel but as long as it is above there i dont see a reason to bearish on gold.
This is the signals part, make sure you check out the 4 hour support and resistance on gold :)
(As i am typing this gold is tryingt o push through some Resistance but i will talk about this in the other idea)
There are 2 signals:
Stochastic
RSI Channel
Stochastic is simple, its breaking the overhead resistance and could indicate strength.
the RSI channel is a little more interesting, it has 3 contact points and today closed above it. I think this is really good because it fits the whole checklist of an rsi channel. It could easily come back down to test the support of the channel but as long as it is above there i dont see a reason to bearish on gold.
This is the signals part, make sure you check out the 4 hour support and resistance on gold :)