XAUUSD Overbought after this jump. Wait for pullback.
XAUUSD crossed over the Wedge pattern and turned overbought intra day.
The RSI (4h) hit the top of its Channel Down, so a short term pull back is in order.
Trading Plan:
1. Buy the retest of the Wedge's top.
Targets:
1. 2030 (Rising Resistance).
Tips:
1. The RSI (4h) has been inside its Channel Down while Gold has been inside its Channel Up since March 20th and is still holding. This suggests that the trend remains bullish.
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Notes:
Past trading plan:
The RSI (4h) hit the top of its Channel Down, so a short term pull back is in order.
Trading Plan:
1. Buy the retest of the Wedge's top.
Targets:
1. 2030 (Rising Resistance).
Tips:
1. The RSI (4h) has been inside its Channel Down while Gold has been inside its Channel Up since March 20th and is still holding. This suggests that the trend remains bullish.
Please like, follow and comment!!
Notes:
Past trading plan:
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