home Gold Updates

Gold Updates

by ortal gretchin

19.9.19

Some of you watching Gold may be wondering what just caused that $4 drop in price the past 15 minutes. I have shown this setup so many times it is redundant at this point but since this setup is so important, I want to drill it into your heads because this will make you money. Once again, we have a negative RSI 3 divergence here, above we have a higher high in price but down below we have a lower high. The reason we call it a divergence is because when the price makes a higher high the RSI 3 should make a higher high as well, here we have a divergence from the norm and this is what thousands of traders around the world are looking for. Once this pattern or setup formed it caused traders who know about this to enter on the sell side and the huge number of sellers dropped the price almost $5 in 15 minutes since this is the 5-minute chart. Learn this setup and its opposite which Is the positive divergence when day-trading and your results will improve dramatically.