Short Term Trend Shift in Gold ?
Update : first target hit, moved stop to break-even for second half, stopped at break-even
Profit/loss= +$23
Price has successfully changed stance from bearish to sideways after breaking the bearish channel. A bullish divergence is clear on RSI, while a major engulfing candle on the daily time interval. Looking for a move towards the recent main high at 1258 areas. A shift from a sideways market to bullish trend may materialize on a break below 1258. Taking the recent low at 1211.00 may abolish this setup
Profit/loss= +$23
Price has successfully changed stance from bearish to sideways after breaking the bearish channel. A bullish divergence is clear on RSI, while a major engulfing candle on the daily time interval. Looking for a move towards the recent main high at 1258 areas. A shift from a sideways market to bullish trend may materialize on a break below 1258. Taking the recent low at 1211.00 may abolish this setup
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