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Gold Spot / U.S. Dollar
Long

XAUUSD on the 15 Minute timeframe:

296
Price is following a powerful uptrend making a series of higher highs & lows. I am looking to see if price will revisit the last higher low structure support once more, which also aligns with the 3rd touch to the ascending channel bottom. From this zone I would be looking for a lower timeframe reaction, and a potential continuation of the uptrend for a new potential higher high aimed towards the top of the channel.

A great setup I am looking at which could provide a high Reward to Risk ratio. Waiting for confirmation in the zone below to look for a long setup.

Have a great week traders!
Note
snapshot 15 Minute setup may look like this
Note
snapshot Hourly Timeframe: Also the zone is a previous area where volume and momentum occured from the zone of interest, which shows an indication that if price re visits this zone volume may return again to push price back to the upside.
Note
snapshot 4 Hour: On the 4 hour timeframe price that volume has increased on the momentum zones as well showing a great alignment with the lower timeframe outlook.
Note
Price didnt quite react as anticipated for market open, but the zone of interest below still remains an area where I will be looking for volume
Profound_Ambition
Supply and DemandSupport and ResistanceTrend Analysis

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Supply and DemandSupport and ResistanceTrend Analysis
Profound_Ambition

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.