Gold - What is a RSI bamm? How to trade it?

Hey guys, after an uneventful 2 weeks, I am hoping next week the market sets us up with some quality harmonic patterns.

The top of my list for next week is gold, where I see a bullish bat completing with a few other key criteria.

1. RSI Bamm present, W structure at oversold, retest the 50 lvl and now back at oversold
2. Bullish bat completes at channel extreme

I will monitor the H1 chart for a double bottom/ rsi divergence before I go long on it.

I seldom trade Gold, but when I see a good setup I will take it.

Do not use a pending order, wait for the clues I shared above and enter with precision.

Good luck and good trading guys!

Will be glad to explain anything.

ความคิดเห็น:

Price is now stabilizing at the PRZ.

My gameplan:

Wait for the
1.RSI to get out from oversold
2. Price to retest PRZ
3. Wait for candlestick reversal at PRZ
4. Check for RSI divergence in H1
5. Enter

ความคิดเห็น:

Price bashed through the PRZ on the 2nd retest, only go long if it goes above 1220. Likely heading further down.

ความคิดเห็น:

This is the setup which must complete before I will go long.

I need it to form a inverted head and shoulders pattern and I will buy at the right shoulder.

If this does not happen, Gold will simply fall much further.