Trade Recommendation: Gold

The price diverges with MACD and RSI. It gives us a bearish divergence which is a strong trend reversal signal. We should expect for short term downward movement. RSI confirms price reversal from a possible resistance zone. MACD confirms downward movement. DMI allows open short trades. The daily time frame also provides bearish signals. We have sell opportunity. Pending orders can be placed below SMA20. Stop orders must be above the local swing high. The main profit target is 1325.00 level and the rest part of short positions should be closed near 1300.00 support level. Recommended trading volume for this trade is up to 3% from your deposit.

Market: XAUUSD 
Sell: 1341.50
Stop: 1358.00
Profit Targets: 1325.00 and 1303.00

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.